COLUMBUS â Ohioâs private employers will pay nearly $72 million less in premiums to the Ohio Bureau of Workers Compensation next fiscal year under a 7.1% rate reduction the agencyâs Board of Directors approved back in February.
This rate reduction became effective July 1, the start of state fiscal year 2022. It will save private employers $71.5 million over this yearâs premiums, affecting approximately 220,000 employers across the state.
âI applaud Ohioâs employers who â despite challenging times - continue to adopt a culture of workplace safety, which helps to allow for continued rate reductions.â said Gov. Mike DeWine.
The Boardâs action marks the fourth consecutive rate reduction for private employers since 2018 and the twelfth since 2008. It also follows a 10% reduction for Ohioâs public employers (cities, counties, schools, etc.) that went into effect Jan. 1.
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