CINCINNATI, OH (FOX19) - Ohio Bureau of Workers' Compensation Administrator/CEO Steve Buehrer visited Cincinnati on Tuesday to remind area employers that their workers' compensation rebates are in the mail.
Private employers, local governments and schools in Hamilton County and surrounding counties will receive approximately $142 million of the $1 billion in workers' compensation rebates. The announcement was first made by Ohio Governor John Kasich in May.
"We are putting $142 million into this region's economy to help strengthen and grow area businesses," said Buehrer. "Employers need to be on the lookout for their checks over the next few weeks and understand they're real."
According to Buehrer, a number of checks remained uncashed in past rebate initiatives, with some businesses admitting they threw them away or ignored them over concerns they weren't legitimate.
Employers will be able to identify their rebate check by a rebate-specific insert in the envelope.
The $1 billion rebate for eligible employers paying into the State Insurance Fund is part of a three-part plan to bring BWC to within net asset guidelines established by its independent Board of Directors. The plan also includes:
- Changes to BWC's successful Safety Grant Program, including tripling the amount of money available from $5 million to $15 million to support expanded statewide efforts to promote workplace safety and encourage further investment in protecting Ohio's workers. BWC will also now match every employer dollar with three dollars and has established a policy to allow businesses to get additional awards over their lifetime. These changes are in effect as of today.
- An effort to modernize the premium collection model by moving toward a prospective-payment system. That authority was granted to BWC in the biennial budget signed by Governor Kasich recently. BWC is currently undergoing computer upgrades that will allow prospective billing, and will ask its Board of Directors to issue employers $900 million in credits to mitigate transition costs. This switch, which is expected to happen in late 2014, will also result in rate reductions of 2 percent for private employers and 4 percent for public employers.
Follow this link to learn more about the rebate initiative: ohiobwc.com