Governor  Dannel P. Malloy
 

Second Injury Fund

Year in Review

During Fiscal Year 2018, the Second Injury Fund:

  • Announced assessment rate decrease for insured and self-insured employers, effective July 1, 2018. The rate for insured employers would be reduced from 2.75% to 2.25%; and, the rate for self-insured employers declined from 3.25% to 2.75%. This marks the twentieth consecutive year in which the Second Injury Fund either reduced or maintained assessment rates - the longest period without an assessment rate increase in the more than 70-year history of the Second Injury Fund.  The cumulative savings to Connecticut businesses since 1999 is estimated at $1.3 billion including $102 million in projected savings for Fiscal Year 2019.

  • 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 248 a year ago to 225.

  • Achieved a total of 205 settlements at a cost of $3.9 million through June 30, 2018.

  • Realized a total savings of $2.5 million in medical costs, using a Preferred Provider Organization Network offered by contracted medical vendors.

  • Reserves (estimated unfunded liability) for all open claims were $307 million, a decrease of $33 million (10%) from a year ago.

  • As of June 30, 2018 the Fund's open claim inventory was 2,762. 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.