Just over $1.3 billion in Ohio Bureau of Worker Compensation rebates will be mailed out in late October.
The news comes as many businesses are struggling to recover from the coronavirus pandemic and the related shutdown issued by Ohio Gov. Mike DeWine earlier this year.
According to the OBWC website, 178,425 private and public employers covered by the State Insurance Fund will receive $1.34 billion in checks and credits to their BWC accounts.
Approximately $184 million will go to local government taxing districts, such as counties, cities, townships, and schools, and the remainder to private employers.
During an Oct. 20 press conference, DeWine announced the refunds will be mailed out on Oct. 23 and throughout the end of the month.
This is the second OBWC refund offered this year. In April, OBWC provided a $1.6 billion dividend refund.
The refunds have been made possible by OBWC’s healthy investment returns on employer premiums, a declining number of injury claims, and prudent fiscal management. The dividend equals 100 percent of the premium employers paid in policy year 2019.
During his press conference, DeWine also talked about the release of a portion of $900 million in Coronavirus Aid, Relief, and Economic Security (CARES) Act. He cautioned some funds would be held back for future testing.
Additional details on how CARES Act funding will help struggling Ohioans with rent, mortgages, and utility bills, will be released at a later date.
