You may remember that we told you earlier in the year that Ohio BWC’s “Base Rate Reduction” didn’t mean lower rates for everyone. Now we have the data on which base rates are going up, and the Ohio workers’ comp policies that increases will be impacted.
Manual (NCCI) codes within all industries will see increases, but some more than others. If your business classifies payroll under manual codes for commercial, transportation, construction or agriculture, some of your base rates may increase as much as 20%. These new rates will become effective when the new BWC policy year begins on July 1, 2023. Being enrolled in Group Rating for the 2023 policy year doesn’t “lock in” rates – these will still apply regardless of program enrollment.
No one likes surprises when it comes to finance, so we’re here to help determine how much of an increase you can expect. If you complete this form on our website, we’ll calculate your increase for you and we’re happy to discuss additional savings options. If you have any additional questions about these changes, please contact us at (440) 249-5260.