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State Representative Stephen Huffman
BWC Rebates Can
Produce Better Future for Ohio Businesses
Darke County employers to receive $3.75 million
As a state representative and someone who has paid insurance bills for
many years, I know just how much insurance can give a person peace of
mind, whether your car, house, or life is being protected. The Ohio
Bureau of Workers’ Compensation (BWC) is an important aspect of that
industry, helping public and private employers protect their workers
while on the job. The premiums paid by these businesses are used to
provide safety services and care for those who are injured while at
work.
This year, the BWC announced that it will return more than $1 billion
to Ohio’s employers, the third time in four years it has done so. In
total, more than 200,000 employers will receive money back because of
this return, and some already have! The BWC is able to give back to the
business community because of a net position of more than $9 billion in
the State Insurance Fund.
Why is there a surplus? First, work environments around Ohio have
improved and are safer, leading to a reduction in the number of
insurance claims. A strong and stable economy also helps, a goal we’ve
worked to achieve through responsible fiscal management. Lastly, higher
than expected investment returns have also contributed to the financial
strength of the BWC.
For Miami County specifically, businesses will receive almost $10
million in rebates from the BWC, with close to $9 million going to
private employers and over $1 million going to public employers.
Additionally, for Darke County, private employers will receive more
than $3.3 million and public employers will get $450,000, totaling
almost $4 million. It is important to note that only the businesses
that are eligible will receive funds back—entities that pay into the
State Insurance Fund, were billed for the previous policy year, and are
currently meeting policy requirements.
Ultimately, this one-time rebate will do so much for Ohio business
owners, rightfully returning their funds and allowing them to reinvest
in their companies. With a strong business sector and capable,
hard-working Ohioans, our state has a better outlook on the future.
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