Ohio Governor Mike DeWine announced yesterday that he has asked the Ohio Bureau of Workers’ Compensation (BWC) to give up to $1.6 billion back to Ohio employers to help ease the economic impact of COVID-19 on Ohio’s economy and business community.
The proposed amount equals 100% of the premiums paid in policy year 2018. Should the proposed $1.6 billion dividend be approved by BWC's Board of Directors:
- An estimated $1.4 billion would go to private employers.
- Approximately $200 million would go to local government taxing districts (counties, cities, schools, etc.)
The BWC will first apply the dividend to any outstanding balances, including the recent installment deferrals. Any amounts exceeding outstanding balances will be sent to the employer. BWC’s Board of Directors will hold an emergency meeting tomorrow to vote on the proposed dividend. Once approved, BWC will begin to mail the checks to employers later this month.
Calfee invites you to visit our COVID-19 Resource Center containing First Alerts to help guide you through the challenges faced by individuals and organizations as a result of the novel coronavirus outbreak. We are committed to helping you meet the diverse and complex challenges and navigate the disruptions caused by this pandemic. Please check the COVID-19 Resource Center regularly for the latest updates, or subscribe to receive the most up-to-date Alerts sent directly to your email inbox. Please whitelist info@calfee.com and news@calfee.com to ensure these emails are delivered directly your inbox and not your spam filter.
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