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Ohio BWC Information: Major Employer Rebates as Early as October?

 

News from and about the Ohio Bureau of Workers' Compensation (BWC) has been released extensively over the last few weeks; All of which play a significant role in how companies based in, or doing business in Ohio, should plan their future budgets.

 

Employers to receive 60% Premium Rebate as Early as October

 

On August 13, Governor Kasich released information on the BWC's proposal to provide another billion dollars back to private employers and public-taxing districts paying into the state-fund Ohio Workers' Compensation system. The proposed plan, "Another Billion Back", could result in a 60% reimbursement of premium to every eligible employer. If the proposal is approved at the September Board meeting, employers can expect a check in October of this year.

 

September 2: Pay your Workers' Compensation Premium & Report Your Payroll

 

One of the major requirements determining eligibility for the BWC's proposed 60% rebate in October is maintaining good standing on premium payments and payroll reporting. Private and Public employers in the state of Ohio must make their upcoming payroll and premium deadline on September 2.

 

Settlement Reached between BWC and Employers

 

According to news sources, funds from the $420 million settlement reached between the Ohio BWC and employers in San Allen, Inc. v. Buehrer, 2014-Ohio-2071, could be distributed to eligible businesses as early as February. Class action members will receive forms shortly. After which, they will have two months to file them with the state-funded organization.

 

Over two hundred thousand employers could qualify for some sort of payback (depending on group rating status between 2001 through 2009). More information, including actual totals to be refunded, will be further clarified after the BWC receives all of the claims within the two-month timeline. Attorney fees and the costs associated with distributing the funds will also impact the totals paid out to individual employers.  

 

For more information contact your Paytime Client Service Representative at 1.800.579.9529.

Thank you.

The Paytime Team