Ohio BWC Approves Private Employer Premium Rate Reduction

At the recent January 2024 Board of Directors meeting, the Ohio Bureau of Workers’ Compensation (BWC) Board of Directors received a proposal for an overall statewide rate reduction of 7% for Ohio private employers. If approved during the February meeting, this reduction will become effective July 1, 2024.

The reduction is expected to decrease paid premiums by nearly $67 million in the upcoming fiscal year and follows a 3.9% reduction for public employers (counties, cities, schools, and others) that went into effect January 1, 2024. This rate reduction would be the seventh straight rate reduction, and the thirteenth reduction in the last fourteen fiscal years for private employers.

Any approved reduction will represent the statewide average, actual paid premiums per private employer may differ. Workers’ Compensation Premiums are based upon many variables including annual payroll, experience history (recent claim history), type of business, and program(s) participation. Private employers can expect to see rate changes reflected on their premium billing sent by BWC later this spring.

History of BWC Rate Chnges (private employers 2011-2023)

2011 - (-3.9%)
2012 - (-0.4%)
2013 - (-2.6%)
2014 - (-7.7%)
2015 - (-9.8%)
2016 - (-12.9%)
2017 - (-1.9%)
2018 - (-13.0%)
2019 - (-15.6%)
2020 - (-11.6%)
2021 - (-7.1%)
2022 - (-10.0%)
2023 - (-8.0%)