The Ohio Bureau of Workers’ Compensation (BWC) has announced a 6% cut in workers’ compensation rates for private employers, starting on July 1, 2025. This follows a 7% reduction that took effect last year. The latest cuts will save Ohio’s private employers nearly $60 million in premiums for the upcoming fiscal year.
Governor Mike DeWine praised these rate cuts, linking them to the state’s commitment to workplace safety. He noted that these reductions reflect a positive trend among businesses to prioritize safe working environments.
The average rates for the 258,000 private and public employers in Ohio are now the lowest they have been in over 60 years. According to BWC Administrator and CEO Stephanie McCloud, private employers have experienced 16 rate reductions in the last 17 years. She emphasized that these savings allow businesses to reinvest in their operations and support their employees.
It’s important to note that while the 6% cut is a statewide average, individual employers may see different changes in their premiums. Factors such as the type of business, payroll levels, claims history, and participation in BWC programs will all influence the exact amount each employer pays.
Overall, this significant rate reduction is a welcome development for Ohio’s business community, highlighting the state’s ongoing efforts to support employers and enhance workplace safety.