Governor DeWine and the board of the Ohio Bureau of Workers Compensation (BWC) have announced a $1.6 billion dividend to Ohio employers. The move was approved by the BWC board on April 10, 2020. What does this mean to you? You will receive an amount equal to the premium you paid into the fund in 2018. Checks are expected to go out later this month. BWC reported that this dividend is possible because of strong investment returns, a declining number of claims, and prudent fiscal management.
Additionally, the BWC announced a deferral of monthly premium payments for March, April, and May until June 1. More welcome news for businesses trying to balance their budgets.
We hope that this additional relief helps your business’ financial position. As always, please contact us if we can assist you in navigating the flurry of information coming from local, state, and federal governments.