Governor  Dannel P. Malloy
 

Second Injury Fund

Year in Review

During Fiscal Year 2017, the Second Injury Fund:
  • Announced that the assessment rate would remain at 2.75% for insured employers and 3.25% for self-insured employers for Fiscal Year 2018. This marks the nineteenth consecutive year in which the Second Injury Fund either reduced or maintained assessment rates - representing the longest period of time without a rate increase. The cumulative savings to Connecticut businesses since 1999 is estimated at $1.3 billion including $103 million in projected savings for Fiscal Year 2018.
  • Provided $26.2 million in indemnity, medical and settlement payments to injured workers. The number of injured workers receiving bi-weekly benefits (indemnity payments) was reduced from 260 a year ago to 248.
  • Achieved a total of 184 settlements at a cost of $3.5 million through June 30, 2017.
  • Realized a total savings of $2.7 million in medical costs, using a Preferred Provider Organization Network offered by contracted medical vendors.
  • Reserves (estimated unfunded liability) for all open claims were $340 million, a decrease of $21 million (6%) from a year ago.
  • As of June 30, 2017 the Fund’s open claim inventory was 2,744. Since 1999, the caseload has dropped from 5,644.
  • Worked with the Second Injury Fund Advisory Board to help the Fund carry out its mission.