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
- 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.