(The Center Square) — Up to $1.5 billion will go to Ohio employers to help ease the impact of COVID-19, according to the Ohio Bureau of Workers’ Compensation.
The dividends equal 100 percent of the premium employers paid in policy year 2019. Checks will be sent to up to 200,000 public and private employers in late October. It’s similar to dividend checks sent in April, when the average check size was $8,500.
“Thank you to the BWC Board of Directors for approving a second round of dividends for Ohio employers,” Ohio Gov. Mike DeWine said in a news release. “The pandemic continues to impact businesses across Ohio, and we hope that this next round of dividends provides financial relief.”
According to the BWC, the dividend is possible because of investment returns on employer premiums, a declining number of claims each year and fiscal management.
“We’re grateful our strong fiscal position allows us to assist our business community during these unprecedented times,” BWC Administrator/CEO Stephanie McCloud said. “However, this means in all likelihood we will not issue a dividend in 2021.”
Of the $1.54 billion dividend in April, $1.35 billion went to private employers and $184 million went to local governments.
J.D. Davidson is a regional editor for The Center Square