Employers, look through your old mail! $10 million in rebate checks remain uncashed.
Checks will stale date in October, forcing delayed reimbursements.
COLUMBUS — Somewhere in Ohio nearly $10 million in rebate checks from the Ohio Bureau of Workers’ Compensation (BWC) sit ready for cashing by more than 5,500 employers who might not even know it.
The uncashed checks are among the more than 160,000 BWC issued in July as part of the agency’s Third Billion Back rebate initiative. Uncashed checks will expire, or stale date, 95 days after the check’s issuance date. That’s Tuesday for some employers and as late as Oct. 18 for others.
“These checks could help a company’s bottom line, create investment opportunities and help our economy,” said BWC Administrator/CEO Sarah Morrison. “But they can’t do any of that if they remain uncashed.”
As of Friday, 5,534 checks totaling $9.8 million had not cleared BWC’s system, including one check for nearly $203,000. In all, 152 checks are for amounts of $10,000 or more. BWC emailed notices Friday alerting employers who had not cashed their checks.
The agency will reissue checks after the stale date following a brief lag time for processing, an unnecessary delay for employers who could use the cash infusion.
BWC’s $1 billion rebate is the agency’s third since 2013. It was made possible by strong fiscal management and better-than-expected investment returns. Employers participating in BWC’s Group Retrospective Rating Program should receive their checks later this month.
“Businesses are free to spend their rebates as they see fit, but we encourage them to invest in workplace safety,” said Morrison. “Safe workplaces mean fewer injuries and fewer work comp claims, a stable workforce and a stronger bottom line for employers.”
For more information, contact BWC directly at 1-800-OHIOBWC (644-6292).