Thursday, June 19, 2008

Effective July 1, 2008 Comp rates

Anyone earning over $61321.00 receives no additional compensation for their Colorado work injury. As of July 1, 2008 the highest temporary and permanent weekly benefit is capped at $786.17. To get that you have to earn $1179.25 a week. If you earn more Colorado says too bad. If you earn less it's 2/3rds of your average weekly wage. So if you earn $600 a week then your weekly temporary benefits would be $400 (2/3rds of $600). What is your average? Add all your overtime and use a common sense approach. The insurer may only use your base pay. Often that is because that is what is told to them by your employer. However your average weekly wage can include overtime and other benefits (especially if they cancel or end your health coverage through work). Your employer or the insurer may decide to only count the last 3 months when that may not reflect a true average. Unless agreed upon you can seek a hearing to question what is a true average for you. However it also does not mean you only count the highest checks you've received. There is a statute on this but really just be sensible and if you are uncertain try to resolve it before seeking a hearing. In any event there is a lid or cap on benefits and for July 1st til next year the figure is set forth above. Also disfigurement is now capped at $4174 or possibly double that if you have extensive and visible disfigurement. It can be less so when I say cap it does not mean that is what you get. You may have a very minor scar and receive only a few dollars.

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