Will a Cut in Workers Compensation Premiums Help Workers?
The state of Ohio is serious about worker safety, and the Ohio Bureau of Workers Compensation is a driving force behind this safety movement. BWC keeps a close eye on employers to make sure employees here in the state are treated well, and these efforts have produced savings that are being passed down to businesses. It looks like another workers compensation premiums cut is in the works, but what does this latest cut mean for the workers in our state?
Will Workers Compensation Premiums Reductions Affect Workers?
Local governments may be looking at a cut in premiums when it comes to workers compensation ohio. At a recent actuarial committee meeting, BWC discussed a proposal that would see rates for governmental employers reduce by as much as 6.1 percent. That could mean school districts, city governments and other state employers could pay $11.8 million less during 2018.
These reductions would go into effect on January 1st, but must be approved in a September 28th board meeting. BWC is already set to give employers a $1 billion in premiums rebates for the third time in four years. Last month, the Bureau released $135 million worth of rebate checks to employers all over the state, but what affect does this have on you?
According to the BWC, these rates can be reduced thanks to fewer claims and a favorable projection for future claims. It says that these reductions are due to improved safety in the work place, which would mean that workers are safer at their jobs. However, there are many studies out there that claim that workers often don’t file workers compensation claims because they fear retribution from their employers.
Workers compensation is an essential part of your rights as a worker, so know those rights and don’t be afraid to get help when you need it. Here in Columbus, our team of workers comp attorneys can help fill in the gaps when you are hurt and afraid.