On New Year’s Day, a state fund will open to assist workers who have been injured on the job, but whose employers do not have insurance.

The Colorado Department of Labor and Employment’s Division of Workers’ Compensation will accept applications for financial aid for injuries that occur after Jan. 1 and that are accompanied by a final order from a judge showing entitlement to compensation benefits.

“The opening of this fund ensures that all workers have an opportunity to receive quality medical care after being hurt on the job,” said Joe Barela, executive director of CDLE.

The Colorado Uninsured Employer Fund will pay “all reasonable and necessary, unpaid past-due medical bills.” Once the fund runs out of money, it closes to new applicants. The fund began in 2017, and in 2019, an average of 11 claims per month were filed. The division predicts it will receive 96 claims in 2020.

A memo from CDLE estimated that currently, “the cost of paying medical benefits to injured workers admitted to the fund will exceed current revenue …. Paying medical benefits alone will cost $2,464,992.00 per year. This amount exceeds the total revenue collected since July 2018; therefore, payment of benefits beyond medical benefits will not be feasible.”

As of Dec. 4, the fund had $1.6 million.