At a press conference with Ohio Governor John Kasich on Tuesday, BWC Administrator Sarah Morrison announced that the Bureau is recommending $1.5 billion in rebates to Ohio employers. If the rebates are approved, rebate checks amounting to 85% of premiums paid for the policy year ending June 30, 2017 will be mailed to employers this summer.
If approved, this would be the fourth straight rebate since 2013, and would bring the amount returned back to Ohio businesses since 2011 to $8 billion. Rebate checks totaling about $1 billion were mailed out in 2017.
Administrator Morrison credited healthy income and returns on the BWC’s investment portfolio for the Bureau’s ability to make another rebate. She cautioned, however that rebates are a goal, not a guarantee. “Our investments are still growing, but we’re seeing the rate of that growth moderate in 2018” she said.