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April 22, 2020

The Check's In the Mail - Employer Dividends on Their Way

BWC Sending up to $1.6 Billion to Ease COVID-19 ImpactOhio BWC

PRESS RELEASE FROM THE BWC, COLUMBUS - The Ohio Bureau of Workers' Compensation (BWC) on Monday began sending up to $1.6 billion in dividend checks to Ohio employers to ease the impact of COVID-19 on Ohio’s business community and economy.

The agency will send more than 170,000 checks through Monday, April 27, in a move requested by Ohio Governor Mike DeWine and approved April 10 by BWC’s Board of Directors.

“Governor DeWine asked his agencies to do all we can to alleviate the economic pain our state is experiencing in these unprecedented times, and we hope this makes a difference,” said BWC Administrator/CEO Stephanie McCloud. “To do so in quick fashion like this was no easy task, and I can’t say enough about my staff and the Department of Administrative Services for their efforts. I also want to thank the thousands of employers across this state who care about workplace safety and pay their premiums on time.”

The dividend equals approximately 100% of the premiums employers paid in policy year 2018. Approximately $1.4 billion will go to private employers and nearly $200 million will go to local government taxing districts, such as counties, cities, townships, and schools.

For a county breakdown of the dividend, visit this link on BWC’s website.

Dividends for specific public employers are public record and can be found at this link

This dividend follows other recent moves by BWC to ease COVID-19’s strain on employers. In late March, BWC told employers they could defer their monthly premium installment payments for March, April, and May until June 1. (Note: BWC will first apply the dividend to any outstanding balances, including these deferrals.) The agency also waived or postponed some requirements and deadlines for several programs that reduce employer premiums and applied the discounts automatically.

The dividend is BWC’s sixth of $1 billion or more since 2013 and seventh overall in that time, thanks largely to strong investment returns, declining injury claims, and other cost-saving moves by the agency. It also continues BWC’S trend of lowering workers’ comp costs for employers. The agency has repeatedly lowered premium rates in recent years, including a 10% cut for public employers that took effect in January and a 13% cut for private employers that begins July 1. 

In total, BWC has saved employers approximately $10 billion in workers’ comp costs through dividends, credits, rate reductions and greater efficiencies since 2011.

For more on COVID-19 as it relates to BWC, visit this Frequently Asked Questions page. For other questions about COVID-19 related to BWC, email BWCCOVID19@bwc.state.oh.us.

For the latest on COVID-19 in Ohio, visit the Ohio Department of Health website coronavirus.ohio.gov or call 1-833-4-ASK-ODH (1-833-427-5634).

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