COLUMBUS — Ohio’s private employers will pay nearly $67 million less in premiums next fiscal year due to a 7% rate reduction approved by the agency’s Board of Directors today.

This rate reduction marks the sixth straight reduction since Governor DeWine took office in 2019 and will be effective July 1. This reduction follows a 3.9% rate cut for public employers — counties, cities, schools, and others — that went into effect on Jan. 1.

“We are pleased to announce this substantial rate reduction for Ohio’s employers,” said Governor Mike DeWine. “This reduction is a result of employer’s dedication to workplace safety and Ohio’s strong economic position.”

BWC remains committed to prioritizing workplace safety. Through engaging in employee well-being, employers continue to reduce workplace injuries and minimize hazards.

“This reduction is evidence of Ohio’s commitment to workplace safety,” said Administrator/CEO John Logue. “Lower premium rates directly relate to cost savings for employers, which allows them to reinvest their money towards the growth of their business and investment in their employees.”

Overall, the average rate levels for the 257,000 private and public Ohio employers in the BWC system are at their lowest in over 60 years.

The 7% rate cut represents a statewide average. The actual premium change for an individual employer will differ based on multiple factors, including employer type or classification, payroll levels, recent claims history, and their participation in various BWC programs.

A history of BWC rate changes since 2011 can be found online by clicking this link.