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Division Posts 2014 Compensation Rates – New Lump Sum Maximum

The Division of Workers’ Compensation has posted the new compensation rates, effective for injuries on or after July 1, 2014:

Maximum Compensation Benefit Rate: $881.65 per week.
Scheduled Impairment Rate: $277.03 per week.
Whole Person PPD Rate: $484.44 per week.
Disfigurement: $4,673.47/$9,345.38.
Lump Sums*: $81,435.67.

*The Colorado Legislature amended §8-43-406 to increase the aggregate of lump sums granted to a claimant. For injuries occurring before January 1, 2014, the aggregate of lump sums granted to a claimant increased to $80,868.10. For injuries sustained on or after January 1, 2014, the director shall adjust the lump-sum limits on July 1, 2014, and each July 1 thereafter. Thus, the maximum aggregate lump sum amount for injuries occurring after January 1, 2014, is $81,435.67. The amendment also provides that a claimant who has received a lump sum “under this section” (presumably meaning any prior lump sum under §8-43-406) is not entitled to request an additional lump sum based on the increase in the aggregate maximum.

Furthermore, for cases with multiple dependents entitled to a lump sum, the aggregate of all lump sums granted to all dependents cannot exceed $161,734.15 for injuries before January 1, 2014, or $162,869.28 for injuries after January 1, 2014.

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