The Ohio Senate Insurance Committee has begun its hearings on the Bureau of Workers’ Compensation (BWC) and Industrial Commission (IC) budgets. Both Administrator John Logue and Chair Jim Hughes testified before the committee earlier this month and highlighted the major aspects of their budget bills.
Other than the elimination of the proposed agency name change for the BWC, each budget bill remains unchanged from their as-introduced version and they enjoyed broad bi-partisan support in the Ohio House, passing the lower chamber with a combined total of five no votes. The most significant policy change comes the BWC’s budget where they are proposing the elimination of the administrative cost fund assessment that is currently a separate charge from an employer’s premium that impacts the total amount an employer pays. Under HB 31, the assessment would be calculated as part of an employer’s premium, like we see with other insurance products like auto insurance, and provide more price transparency for Ohio employers.
Across the biennium, the BWC budget bill appropriates a total of $755.8 million and the IC budget appropriates a total of $111.1 million. These expenditures are paid for entirely by employer premiums and may be offset by BWC’s investment returns.
The Ohio Chamber has followed each bill since the beginning of the legislative process and will continue to monitor the bills to assure no last second amendments that would negatively impact Ohio businesses are added.