Rate Reduction Proposal for Private Employers

Ohio Governor John R. Kasich joined BWC Administrator/CEO Stephen Buehrer to announce a proposal to reduce overall workers' compensation base rates by 4 percent, for a total cut in premiums of about $65 million annually.

Unlike prior years, the average rate reduction would apply to employers regardless of whether they participated in incentive programs such as group rating.

"Our goal is to increase premium stability and lower costs for all Ohio employers," said Buehrer. "Rates are a critical part of job growth decisions made by Ohio employers, but we'll also continue to focus on other aspects such as containing medical costs and helping injured workers return to leading healthy productive lives sooner."

In addition to the overall drop in base rates, the average rate for some key industries would fall even more. For example, the average rate for the manufacturing industry group would fall 7 percent and the average rate for the commercial industry group, which includes various retail and wholesale establishments, would fall 5 percent.

The rate change reflects an average reduction. Each employer's actual rates incorporates overall claims costs within their specific industry as well as their own individual performance.

If approved by the BWC board of directors the new rates would become effective July 1.

Attendance - 05/20/11-Accident Investigation 101

Grant Savings for Wholesale - Retail Employers

As part of its partnership with the National Institute for Occupational Safety and Health, the BWC is launching a grant program to reduce occupational injuries and illnesses in the wholesale/retail trade sector.

The program will assist employers in this sector in enhancing safety practices by providing funds to purchase safety equipment while participating in a study that will guide future programming and establish best practices for accident and injury prevention.

"Ohio wholesale/retail employers have a unique opportunity with this program to not only save money, improve safety and reduce injuries in the short term, but to also contribute to research that can help lower workers' compensation costs in the future," said BWC Administrator/CEO Stephen Buehrer.

Participating employers will receive 2-to-1 matching funds, up to $40,000, through the BWC's SafetyGRANT$ Program to purchase equipment that can reduce workplace injuries and illnesses. A two-year follow-up study conducted by the BWC and NIOSH will analyze the cost effectiveness of these interventions in reducing occupational injuries.

More information and the SafetyGRANT$ application is available at ohiobwc.com.