Ohio ranked 5th lowest in premium rates nationwide

NEWS RELEASE

June 20, 2025

Ohio's workers' compensation rates remain among the lowest in the country, according to a new study done by the Oregon Department of Consumer and Business Services. This biennial study ranks all 50 states and Washington, D.C., based on premium rates that were in effect as of Jan. 1, 2024.

Ohio ranked 5th lowest in premium rates in this latest analysis, remaining equal to the 2022 study. However, Ohio's premium index rate lowered even more, dropping from 83 cents per $100 of payroll in 2022 to 68 cents in 2024. 

Ohio is one of only four states that is the exclusive provider of workers' compensation coverage for employers in their state. Of the four states, Ohio ranks 2nd behind North Dakota, which has the lowest premium rates overall in the latest study.

"Ohio continues to be one of the best states for business owners," said Governor Mike DeWine. "Our workers’ compensation rates are among the lowest in the country, largely thanks to the dedication of Ohio’s workforce to workplace safety."

Ohio's 5th-place ranking is a dramatic improvement from 2008, when it was ranked third highest in premiums across the country.

"We continue to reduce our rates and maintain a steady rate environment," said Ohio Bureau of Workers' Compensation (BWC) Administrator/CEO Stephanie McCloud. "Our goal is to create the best environment for our employers to thrive and continue to focus on their businesses needs and on workplace safety."

On July 1, private employers will benefit from another 6% rate reduction that will decrease workers' compensation premiums by nearly $60 million. BWC's overall private employers' rates have dropped by 50% since 2019 and by 70% since 2011.

Public employers' rates have dropped by 57% since 2011.

A history of BWC rate changes since 2011 can be found online by clicking this link.

Established in 1912, the Ohio Bureau of Workers’ Compensation is the exclusive provider of workers’ compensation insurance in Ohio, serving 258,000 public and private employers. With over 1,600 employees and assets of approximately $23 billion, BWC is one of the largest state-run insurance systems in the United States. For more, visit bwc.ohio.gov.

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Media Contacts:
Kim Norris, 614-728-8045 or 614-361-0202, kimberly.n.1@bwc.ohio.gov

https://info.bwc.ohio.gov/news-and-events/news/ohio-ranked-5th-lowest-in-premium-rates-nationwide