Ohio Workers’ Comp News

Over the past several years the Ohio Bureau of Workers’ Compensation has continued to lower the Maximum Discount Rate (MDR) attainable for group rating participants. In the past the MDR has been the key indicator when figuring out your premium payments. With the addition of the Break Even Factor (BEF) there is now a new factor added in calculating your true discount rate.

The BWC has just announced that this years’ maximum discount rate will be set at 65% but when you factor in the BEF the final computation puts your discount percentage at 51%. Simply put, if a company has very little or no claims costs the best group discount will be 51%, not 65%.

Don’t be fooled, you will not see a 65% discount offered this year. For small to mid-sized companies group rating still is the best way to save on your workers’ comp bill. For a free no obligation evaluation, please don’t hesitate to call Hunter Consulting at (513-231-4023 ext. 114).