Seven years after an investment and ethics scandal engulfed the Ohio Bureau of Workers’ Compensation and led to criminal charges against more than 20 people, the state-run insurance program for injured workers is set to return about $1 billion to public and private employers across the state.
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By the numbers
The Ohio Bureau of Workers’ Compensation is a state-run insurance program for injured workers.
$1.8 billion: Premiums paid annually
$1.8 billion: Claims paid annually
1.1 million: Current number of open claims
105,000: New claims opened annually
250,000 employers pay into the system
$25 billion: Investment portfolio, including $8.8 billion in net assets
7.38 percent: Average annual return on state insurance fund (2008-2012)
Source: Bureau of Workers’ Compensation
- $1 billion in rebates for 250,000 employers, beginning this summer
- $15 million in safety grants, up from $5 million
- Change the billing cycle to be prospective rather retrospective or the current arrears-based system