Thursday, July 24, 2014 at 3:02 PM
The Ohio Bureau of Workers’ Compensation has reached a tentative agreement with a group of employers -- settling a case filed seven years ago. The employers claimed that the BWC overcharged what’s known as “non-group rated businesses” by hundreds of millions of dollars. From the Ohio Statehouse, Andy Chow reports.
The group says it was paying for excessive coverage between 2001 and 2007—and sued the state for $860 million in overpaid premiums. The pending settlement is less than half of that at $420 million. Steve Buehrer, the head of the BWC says the bureau has continued to overhaul its policies and the practices that were in question at the start of the lawsuit are no longer in place.
“Today’s agreement allows us to continue the clear principle that BWC has the authority to set rates at the same time protects the assets of the state insurance fund,” says Buehrer.
Last year the BWC board set aside $860 million in preparation for a court ruling. The remaining money will go back into the state insurance fund once the settlement is paid out.
The next step for the case would’ve been the Ohio Supreme Court.
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