Year in Review

During Fiscal Year 2022, the Second Injury Fund:

• Assessment rates for insured employers will remain at 2.25%; and the rate for self-insured employers will be 2.75%. The savings to Connecticut businesses is projected to be $30 million including estimated savings of $5.8 million for Fiscal Year 2023. 

• Provided $19 million in indemnity, medical and settlement payments to injured workers. The number of injured workers receiving bi-weekly benefits (indemnity payments) decreased 5% from 193 a year ago to 183. 

• Achieved a total of 146 settlements at a cost of $3.7 million through June 30, 2022. 

• Realized a total savings of $1.4 million in medical costs, using a Preferred Provider Organization Network offered by contracted medical vendors. 

• Reserves (estimated unfunded liability) for all open claims was $197 million, a decrease of $5 million (2%) from a year ago. As of June 30, 2022, the Fund's open claim inventory was 2,544. 

• Worked with the Second Injury Fund Advisory Board to help the Fund carry out its mission.