BWC delivers billions of dollars, millions of masks for Ohio employers and workforce
$1.5 Billion Dividend for Ohio Employers
Ohio Governor Mike DeWine is asking the board for the Ohio Bureau of Workers’ Compensation (BWC) to send up to $1.5 billion to Ohio employers this fall to ease the impact of the coronavirus (COVID-19) on Ohio’s economy and business community. BWC’s board of directors will vote on this proposal Sept. 25. If approved, this is the second dividend of $1 billion or more since April and the third since 2019, all at the governor’s urging. All told, this equals $4.3 billion since 2019. Checks could start going out in late October.
This proposed dividend equals approximately 100 percent of the premiums employers paid in policy year 2019. BWC will apply the dividend to an employer’s outstanding balances first, including recent installment deferrals. Any amounts exceeding outstanding balances will be sent to the memployer. For those employers, it means one less bill to worry about. Employers must complete their true up for the 2019 policy year by Oct. 2, 2020, in order to mbe eligible for the dividend. As in previous years, the dividend is possible due to strong investment returns on employer premiums, a declining number of claims each year, and prudent fiscal management. It’s also due to employers who work hard to improve workplace safety and reduce injury claims.
BWC’s Board of Directors voted Aug. 21 to approve Gov. DeWine’s request that the BWC distribute a second round of face coverings (masks) to Ohio employers and their workforce as part of our Protecting Ohio’s Workforce — We’ve Got You Covered initiative. Since May, 20.6 million masks have been shipped to 197,000 employers under this initiative. In a second round, the BWC will ship approximately 23 million masks to employers to replace masks that have exhausted their effective use. This is to minimize the spread of COVID-19.
- Employers will not be billed for these masks; they come at no extra charge to their premiums. The BWC is working hard to purchase as many of these masks as possible from manufacturers here in Ohio.