$860M in overcharges are alleged against an Ohio state insurance fund. Those overcharges are now owed to Ohio employers, as set down in a ruling by Cuyahoga County Common Pleas Judge Richard McMonagle. According to a report from early Thursday morning (March 21), the decision affects about 270,000 employers throughout the state.
This insurance fund was paid into by businesses to protect injured workers, but apparently the businesses were getting overcharged in the process. Many businesses may not have even been aware that they are covered y this large class action suit, but when the windfall of this lump sum starts getting talked about, they will surely become very aware.
The report estimated that at least 3,000 local businesses are owed $5,000 or more and that 143 of them are due at least $100,000. There is even an employer in Columbus that is now owed $1.4 million in this ruling. None of the names of the businesses were revealed to the public yet, as notification needs to be made by the courts first.
The $860M in overcharges will be divided up among all the businesses affected and one group has even set up a website to allow employers to check on what might be owed to them. That website is PayNowBWC.com and was set up by Pay Us Back Ohio BWC.
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