Year in Review

During Fiscal Year 2024, 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%.

• Provided $17.1 million in indemnity, medical and settlement payments to injured workers. The number of injured workers receiving bi-weekly benefits (indemnity payments) decreased 6% from 173 a year ago to 162. 

• Achieved a total of 139 settlements at a cost of $4.5 million through June 30, 2024. 

• 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 $168 million, a decrease of $16 million (9%) from a year ago. As of June 30, 2024, the Fund's open claim inventory was 2,882. 

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