7 CCR 1106-1-3 - Funding and Review
3-1 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.
Notes
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