Ohio to begin distribution of $5B comp dividend

The Ohio Bureau of Workers Compensation will begin issuing $5 billion in dividends to employers in the state to ease COVID-19’s impact on businesses, the bureau announced Wednesday.

More than 178,000 public and private employers covered through Ohio’s State Insurance Fund are eligible to receive the dividend, which will be distributed through a combination of checks in the mail and credits to BWC accounts.

According to the BWC, approximately $4.3 billion in dividends will go to private employers and $687 million will go to local government taxing districts, such as counties, cities, townships and schools. BWC will first apply the dividend to an employer’s unpaid balance, then send a check for the rest. Checks will be mailed in several batches over the next week.

This is the third dividend approved in Ohio this year. In April, the BWC distributed $1.54 billion to employers, and in October another $1.3 billion was distributed.

More insurance and workers compensation news on the coronavirus crisis here.