Ohio Governor Mike DeWine announced yesterday that he has asked the Ohio Bureau of Workers’ Compensation (BWC) to give up to $1.6 billion back to Ohio employers to help ease the economic impact of COVID-19 on Ohio’s economy and business community.
The proposed amount equals 100% of the premiums paid in policy year 2018. Should the proposed $1.6 billion dividend be approved by BWC's Board of Directors:
- An estimated $1.4 billion would go to private employers.
- Approximately $200 million would go to local government taxing districts (counties, cities, schools, etc.)
The BWC will first apply the dividend to any outstanding balances, including the recent installment deferrals. Any amounts exceeding outstanding balances will be sent to the employer. BWC’s Board of Directors will hold an emergency meeting tomorrow to vote on the proposed dividend. Once approved, BWC will begin to mail the checks to employers later this month.
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