Columbus pulled within 2-1 on a goal by Panarin at 3:51 of the second period. A shorthanded goal by Calvert, playing in his first game since Nov. 4 after missing 12 with an upper-body injury, tied it 2-2 at 16:28.
Ovechkin scored 10 seconds into a Washington power play for a 3-2 lead. He took a pass from John Carlson in the left face-off circle and calmly beat Bobrovsky for his 19th of the season and sixth goal in five games.
Kuznetsov made it 4-2 at 1:08 of the third period with his sixth goal in eight games.
"The game was very tight, especially [the] first two periods," Ovechkin said. "They have [an] advantage, we have [an] advantage. In the third period, it was [a] very important goal for us, [Kuznetsov] scored, and we knew when [Holtby] plays like that, it's very hard to score against him. He saved us."
Werenski made it 4-3 at 16:58 before Columbus had a final chance to tie the game. A shot by Dubois hit Holtby and dropped in the crease. Panarin was there, but Jay Beagle lifted his stick to prevent a tap in and cleared the puck off the line with 1:48 left.
"Poor [Panarin]," Foligno said. "If he wasn't celebrating, he would have tapped it in, if it wasn't in already. It's a tough one to swallow, but we've just got to be better than the start."