In Colorado, the Division of Workers' Compensation is part of the Department of Labor and Employment. The State Division of Workers' Compensation is the office that holds the responsibility for enforcing and administering the Colorado Workers' Compensation Law. The Colorado General Assembly that enacted the law, did so in order to provide rapid and efficient delivery of medical and disability benefits to those workers who have been injured on the job or work place. Further, the benefits are to be provided at a cost that is economical and reasonable to employers.
The Colorado Division of Workers Compensation is the agency that oversees workers compensation. As such, it prepares programs, procedures and rules that enforce the existing law. In addition, it is responsible for settling any disputes that may occur between the injured worker and the employer. The Division of Workers Compensation does not directly pay the benefits when a claim is approved. Instead, the employers contract with private insurance companies approved by the Division of Workers Compensation to purchase insurance coverage. Alternatively, the qualified employer may provide a stable self-insurance program for it's employees. Costs to provide workers compensation insurance coverage for workers cannot, by law, be deducted from employees' wages.
Another responsibility of the Colorado Division of Workers' Compensation is to publish statistics regarding the type and frequency of accidents incurred while on the job. By review and understanding of the statistics, some efforts can be made to eliminate or lessen the factors that have the highest probability of causing accidents according to historical information. For example, the most common body part injured is the back--and this is true of both males and females. The Division of Workers' Compensation can reduce the number of claims overall by focusing on measures that are most probable causes of back injuries.
In fact, statistics show a significant decline in injury claims in Colorado. Between the years of 1994 and 2003, the average employment on an annual basis increased by nearly 22%, but the incidence of claims filed for lost time on the job decreased by over 21 percent.
With only a few exceptions, all employers in the State of Colorado are mandated to provide workers compensation insurance coverage. The workers compensation insurance coverage can be obtain from any of more than 200 private insurance carriers that are approved to do business in the State of Colorado. It pays for the employer to carefully review the provisions and policies offered by the insurer before making a final selection of the carrier.
Further, the employer should make sure that each class of employee is properly identified for risk categories and adequate coverage. Changing a risk category for an employee can make a significant difference in the premium costs in some instances. In general, any person who performs services for remuneration is presumed under the law to be an employee and thus required to be included in the workers compensation schedule for the employer. An independent contract that is fully qualified as a contractor is not assumed to be an employee and thus doesn't have to be covered by the employer.
Employers are able to carry self-insurance for workers compensation benefits, but in order to do so, they must meet strict loss control and financial standards and must be approved by the Division of Workers Compensation. Those employers eligible for self insurance must employ at least 300 employees on a regular basis in Colorado or must be part of a parent company with assets of at least $100 million. Employers with self insurance pay obligations for workers compensation benefits directly from the assets of the employer.
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