Second Injury Fund Tax to Rise to 6.75% in 2018

An annual assessment that carriers pay to Louisiana’s Second Injury Fund will rise one percentage point in 2018, Louisiana’s workers’ compensation agency announced Wednesday. The agency currently assesses carriers and self-insurers at a rate of 5.75% of their yearly benefit payout in order to fund the SIF. But because carriers and self-insurers paid $20 million less in benefits this year, the assessment will not bring in as much money as anticipated. To make up for the shortfall, the Second Injury Board voted to increase the assessment to 6.75% in 2018. When a worker i...