OH WC Premiums Continues To Decline

                               Columbus, OH (CompNewsNetwork) - One day after a national study recognized the progress of comprehensive reform in reducing costs for Ohio employers, the Ohio Bureau of Workers' Compensation (BWC) lowered premiums for the state's 3,800 Public Employer Taxing Districts (PECs) another 5.5-percent, bringing the three-year total reduction to 33.5 percent. Released yesterday, the biennial Oregon Premium Ranking Study showed Ohio fell from third highest in the country with an average private employer base rate of $3.32 per $100 of payroll in 2007, to 17th with just $2.24 per $100 of payroll in 2009.

“The remarkable turnaround of Ohio's workers' compensation system becomes very clear when we consider the fact that on average public and private employers are paying more than a third less for workers' compensation coverage than they were just three years ago,” said BWC Administrator Marsha Ryan. “Shrinking premium payments for employers in both sectors are a direct result of fewer workplace injuries, comprehensive reform to strengthen BWC finances and operations, and our commitment to keep premiums as low as possible, while providing quality care for Ohio's injured workers.”

PECs include Ohio's 3,800 cities, counties, townships, villages, schools, libraries and special taxing districts. Rates for individual PEC entities differ based on their individual claims history. While the total, overall premium collected could decrease by 5.5 percent from the current year, some employers may see an increase or no change, depending on their loss history.

In other actions today, the Board also approved a 5.7-percent increase in reimbursement to medical providers as part of its adoption of a new inpatient hospital fee schedule for 2011. This increase is intended to ensure continued, quality care for injured workers who require hospitalization as part of their treatment to recover from their injuries.

The Board also approved plans to issue a Request for Proposal (RFP) for a full-service investment consultant to assist BWC in decisions related to BWC's investment funds.

The next meeting of the BWC Board of Directors will be Friday, November 19, 2010 at 9:30 a.m. in Room 3, Level 2 of the William Green Building, located at 30 W. Spring St., Columbus.  

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