Businesses Receiving Payback
Governor Kasich of Ohio has begun
presenting rebates to businesses in Ohio.
This action was promoted when a Cuyahoga County
Common Pleas Court ruled that the
Bureau of Workers Compensation( BWC) had improperly gave
discounted premiums to employers that joined group-insurance
plans while charging higher rates to those not in the group.
As many as 270,000 employers filed
Many of them are small business owners.
Approximately $860 million dollars are owed to
businesses in Ohio as a result.
The NFIB applauds the effort to
repay the money.
They believe that the returned dollars will help
stimulate the economy and reinvest in businesses in Ohio.
According to the NFIB, going forward
the system of premium collection will be modernized that
will lead to a prospective-payment system that would see the
BWC issue $900 million in credits to employers.
Additionally, it will also lead to rate reductions of
2 percent for private employers and 4 percent for public
If you’re owed money, your check is in the mail according to
CPA Practice Advisor