MOUNT VERNON — The Ohio Bureau of Workers’ Compensation announced workers’ comp rebates to Knox County private and public businesses totaling more than $3,360,000.
A spokesman for BWC, Tony Gottschlich, explained that the rebates are based on zip code, meaning that the total could vary slightly, but noted that the total return to each business this year was 85 percent of the premium each business paid. This is the fourth, and largest rebate since 2013 with rebates occurring in 2013, ’14, ’17 and ’18, according to Gottschlich.
The rebates are so large this year, he said, because of healthy returns on investment income. The amount of the rebate is chosen after BWC determines that they have enough money to cover expected losses. As rebates are dependent on investments and falling claims, Gosttschlich warned that rebates are not guaranteed. The rebates, Gottschlich said, belong to the employers and can be used as they see fit.
BWC typically encourages businesses to use the money to reinvest in workplace safety measures, Gottschlich said, noting that one of BWC’s “big missions” is workplace safety and hygiene. Employers can go online to Ohio.BWC.gov to learn more about available safety grants. The BWC also offers consulting services, according to Gottschlich.
In total, BWC returned, a total of $1.5 billion to Ohio employers, up from 1 billion in past rebates, according to Gottschlich.