Government entities in Ohio will see workers compensation rates decrease at an average of 9.1% as of 2015, the board of directors of the Ohio Bureau of Workers’ compensation announced.
Combined with decreases from the past four years, the rate cut, which covers 3,800 cities, counties, townships, villages, schools and special districts, marks a total decrease to local government rates of nearly 20% since 2011, the bureau said Friday in a statement.
“This cut means Ohio local governments will pay $19 million less in annual premium in 2015,” Ohio Bureau of Workers’ compensation Administrator and CEO Steve Buehrer said in the statement. “The savings through rate reductions, combined with more than $250 million in rebates over the last two years, are sending dollars back to public employers that can be invested into communities across the state.”
Published by Business Insurance.
While reductions are expected for all public employers, premium changes for individual public entities will differ based on factors such as manual classification, recent claims history and program participation, according to the statement. The largest overall decrease is in the Volunteer/EMS classification at 22.4%.
The comp board of directors will vote on the reductions in each category in November, and new rates will be effective Jan. 1, 2015, according to the statement.