Ohio Employers Save $10 Million With New Rate Cut

COLUMBUS— Ohio’s private employers will be paying approximately $10 million less in workers’ compensation premiums thanks to another rate reduction under the direction of Ohio Governor Mike DeWine.

Today, BWC’s Board of Directors approved a 1% rate cut for private employers, which will take effect July 1, 2026. This follows a 1% rate cut for public employers that took effect Jan. 1, 2026, resulting in a $2 million reduction in premiums.

“I applaud Ohio’s businesses for continuing to put safety first and protecting our workforce,” said Ohio Governor Mike DeWine. “This additional reduction is a direct result of their hard work.”

BWC has already reduced workers’ compensation rates by 50% since Governor Mike DeWine took office in 2019 and by 70% since 2011. Overall, the average rate levels for the 245,000 private and public Ohio employers in the BWC system are at their lowest in over 65 years.

“Ohio’s premium rates are among the lowest in the country,” said BWC Administrator/CEO Stephanie McCloud. “A recent study found Ohio has the fifth lowest rates through January 1, 2024, down from the third highest in 2008.”

The proposed 1% rate cut represents an average statewide premium change, including administrative costs. The actual premium paid by individual private employers depends on several factors, including the expected future claims costs in their industry, their company’s recent claims history, and their participation in various BWC programs.

A history of BWC rate changes since 2011 can be found online by clicking this link.