Year in Review
During Fiscal Year 2021, 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 $23 million including estimated savings of $5 million for Fiscal Year 2022.
- Provided $23 million in indemnity, medical and settlement payments to injured workers. The number of injured workers receiving bi-weekly benefits (indemnity payments) decreased 5% from 204 a year ago to 193.
- Achieved a total of 221 settlements at a cost of $5.1 million through June 30, 2021.
- Realized a total savings of $1.3 million in medical costs, using a Preferred Provider Organization Network offered by contracted medical vendors.
- Reserves (estimated unfunded liability) for all open claims was $202 million, a decrease of $52 million (20%) from a year ago. As of June 30, 2021 the Fund's open claim inventory was 2,375.
- Worked with the Second Injury Fund Advisory Board to help the Fund carry out its mission.