7 Colo. Code Regs. § 1106-1-3
Current through Register Vol. 47, No. 23, December 10, 2024
Rule 7 CCR 1106-1-3 - Funding and Review3-1 Annual Review (A) On an annual basis the Board shall review funding received the previous year, anticipated funding for the upcoming year as well as actual expenditures for the prior year and anticipated expenditures for the upcoming fiscal year.(B) On or before June 1 of each year the Board shall release an annual report identifying the benefit level that will be paid for the upcoming fiscal year subject to the Board's authority to lower benefits based on funding levels as set forth in § 8-67-107(1)(b). The report shall also include the total number of uninsured claims filed with the Division, the number of claims for which benefits were paid in the previous year, the total amount paid from the Fund to injured workers listed by category of benefit as well as information regarding efforts at recovery from uninsured employers.3-2 Interim reviews (A) The Board may at any time review funding levels and issue a modified report.(B) If funding levels are insufficient to continue paying benefits at the benefit level announced in the annual report the Board may, at its discretion, lower benefit levels for the remainder of the year and/or close the Fund to new applicants. (1) Any claimant denied access to the Fund upon initial application because of lack of funding may reapply the following fiscal year, provided said claimant is still entitled to receive benefits.(2) Any claimant admitted to the fund on reapplication pursuant to this section will be entitled to have their outstanding medical bills paid dating back to the date of injury subject to the limitations in rule 2-3(b).(3) Upon admission following reapplication, non-medical benefits will be paid in accordance with the priority set forth in § 8-67-107(1)(b) and the funding levels otherwise established by the board. (C) The board may include contingencies in the annual report to adjust the benefit level based on remaining balance in the fund without the need to issue an interim report.42 CR 05, March 10, 2019, effective 3/30/2019