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August 2007 Ohio Bureau of Workers' Compensation Workers' compensation is a fairly simple concept. It is a safety net for workers and employers when work related injuries and illnesses occur. While the big picture is pretty straightforward, the details can be more complex. A few aspects to review or consider can be advantages regarding the Ohio workers' compensation insurance program. While average premium rates for the employers will remain constant for the premium year ending June 30, 2008, individual employers' rates are affected by their own claims experiences. Employers with higher claims costs will have higher workers' compensation premium rates; conversely, an employer with lower than average claims costs will have lower premiums. The premium rates can also vary depending on group rating participation. A proactive stance regarding the Ohio Bureau of Workers' Compensation insurance program can be beneficial. The group rating programs have been in existence for many years and employers have taken advantage of these programs which substantially reduced their premium costs. It may be a good time to re-evaluate your group rating program or to request quotes if you are currently not in a group, to compare available group rating programs by analyzing which would provide you with greater savings. Also being proactive and improving safety at your workplace can help minimize work related injuries and illnesses which could result in lower premium costs or enable an employer to become eligible for group rating participation. The Ohio Bureau of Workers' Compensation maintains local customer service offices throughout the state to make it easier for Ohio employers to take advantage of injury prevention services as well as other programs to help keep workers' compensation premiums to a minimum. In summary, 1) all employers should request group rating quotes and join a group if they qualify and premium rates are a savings, 2) all employers should contact the Ohio Bureau of Workers' Compensation for a review of their programs to increase awareness of safety in the workplace and what can be done to reduce work related injuries and illnesses and to maintain reasonable premium rates. If you need assistance regarding Ohio's workers' compensation insurance program, please contact our office.
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