Gongwer.com | Thursday, May 2, 2013, 01:46 PM
Kasich Announces $1 Billion In Workers’ Compensation Rebates
Gov. John Kasich announced plans Thursday to give Ohio employers a $1 billion rebate from the Bureau of Workers’ Compensation and another $900 million credit as the agency revamps its payment system.
“I would call this one of the most important economic stimulus measures that you can see. We’re actually going to do cash rebates,” he said during a news conference at a small T-shirt shop in Columbus.
“Being able to give $1 billion in cash means there’s going to be a heck of a lot more money floating around inside the state of Ohio and it will be of significant benefit to the employers, particularly the small business people,” he said.
Gov. Kasich and BWC Administrator Steve Buehrer said they would submit the rebate proposal to the Board of Directors for approval at its next meeting in late May.
A separate plan to convert the payment system to a prospective schedule, rather than billing in arrears, will require legislative approval, Mr. Buehrer said. Under the proposal, BWC would issue a $900 million credit to employers to offset transition costs, while lowering premium rates another 2% for private employers and 4% for public entities.
In addition, the BWC will triple the Safety and Wellness Grant program from $5 million to $15 million.
More details in today’s Gongwer News Service Ohio Report.
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