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4 HARTFORDBUSINESS.COM | NOVEMBER 27, 2023 TOP HEADLINES compensation rates are decreasing due to the ongoing drop in the number of workplace injuries and claims filed, which has saved businesses more than $300 million on their premiums over the last nine years. For Connecticut businesses, the average monthly cost for workers' compensation premiums is about $53, or $636 annually. Starting next year, the average monthly cost will be roughly $48, or $564 annually. That equates to more than $30 million in savings for policyholders in 2024. CT added 3,700 jobs in Oct.; private sector employment at 'all-time high' Connecticut continued its streak of job gains in October, as employers added 3,700 jobs last month, according to new data from the state Department of Labor. The state's unemployment rate held steady at 3.5%. The U.S. unem- ployment rate is 3.9%. September's job gains were also revised upward by 500 jobs to 3,700 positions added, labor officials said. Connecticut has added 25,600 jobs so far in 2023. The state has also fully regained the more 289,100 jobs that were lost during the March- April 2020 COVID lockdown, labor officials said. $105M Hartford Line upgrade will lead to expanded service Service on the Hartford Line will increase thanks to $105 million in federal funding that will be used to double-track sections of the commuter railroad that currently have only one track, according to the state Department of Transportation. The money is part of $2 billion in federal funding for 10 rail projects across the state from the Infrastruc- ture Investment and Jobs Act. The Hartford Line's $105 million allocation will go toward double- tracking three sections of track totaling 6.2 miles. Construction is expected to begin in August 2024 and take three years to complete. The DOT estimates the number of trains on the Hartford Line will increase from 35 to 44 per day. Ridership on the Hartford Line has been strong, nearly reaching pre-pandemic levels, according to the DOT. Cigna explores sale of Medicare Advantage business Bloomfield-based health insurer Cigna Group is exploring the sale of its Medicare Advantage business, according to news service Reuters. Medicare Advantage is an alter- native to government-sponsored Medicare, which is offered by private companies, mostly to people 65 and older. Medicare Advantage plans are approved and funded by the federal government. The potential sale marks a depar- ture from Cigna's expansion in the sector, according to Reuters. Cigna entered the Medicare Advantage business with its $3.8 billion acquisi- tion of HealthSpring in 2011. The move comes at a time when the U.S. government is "tightening its purse strings in reimbursing health insurers for their services," according to Reuters. Cigna in 2022 generated $7.9 billion from Medicare Advantage – 4.4% of its total revenue – along with $1.2 billion from Medicare Part D. NBC CT announces new anchor lineup NBC Connecticut recently announced it's shaking up its talent lineup with new anchor assignments. Shannon Miller has been named a co-anchor of NBC Connecticut News Today, joining Heidi Voight and Bob Maxon weekdays from 4:30 a.m. to 7 a.m. Miller has been with NBC Connecticut for nearly seven years. Ted Koppy formerly anchored the morning show for NBC Connecticut, but he recently disclosed on Face- book that he's been dealing with a "serious" medical condition that was unearthed following a bike accident. Amber Diaz has been named co-anchor of the NBC Connecticut News at 4 p.m. and 5:30 p.m., along- side veteran anchor Kevin Nathan. A CTrail Hartford Line train. Hank Guerrero is the general manager of TV news stations NBC Connecticut and Telemundo Connecticut. PHOTO | CONTRIBUTED HBJ PHOTO | STEVE LASCHEVER We put you and your business first. And second. And third. Our local team will focus on giving your business the solutions you need - from financing, to commercial real estate, to cash management services, to small business solutions. Let us know how we can help. You're first in line. For more information, call us at 860.200.2440 or visit washtrust.com/ctbusiness. Member FDIC.