(1)
(a) There is hereby established a major medical insurance fund to defray medical,
surgical, dental, hospital, nursing, and drug expenses and expenses for medical,
hospital, and surgical supplies, crutches, apparatus, and vocational rehabilitation,
which shall include tuition, fees, transportation, and weekly maintenance equivalent
to that which the employee would receive under section 8-42-105 for the period of
time that the employee is attending a vocational rehabilitation course, which
expenses are in excess of those provided under the Workers' Compensation Act of
Colorado for employees who have established their entitlement to disability
benefits under said act, whether necessary to promote recovery, alleviate pain, or
reduce disability.
(b) The unrestricted year-end balance of the major medical insurance fund,
created pursuant to subsection (1)(a) of this section, for the 1991-92 fiscal year
constitutes a reserve, except as described in subsection (1)(b.5) of this section, as
defined in section 24-77-102 (12), and, for purposes of section 24-77-103:
(I) Any moneys credited to the major medical insurance fund in any
subsequent fiscal year shall be included in state fiscal year spending, as defined in
section 24-77-102 (17), C.R.S., for such fiscal year; and
(II) Any transfers or expenditures from the major medical insurance fund in
any subsequent fiscal year shall not be included in state fiscal year spending, as
defined in section 24-77-102 (17), C.R.S., for such fiscal year.
(b.5) (I) For state fiscal years commencing on or before July 1, 2024, and on
or after July 1, 2026, the state treasurer shall credit all interest and income derived
from the deposit and investment of money in the major medical insurance fund to
the major medical insurance fund.
(II) Notwithstanding any subsection of this section to the contrary, for the
state fiscal year commencing on July 1, 2025, in accordance with section 24-36-114
(1), the state treasurer shall credit all interest and income derived from the deposit
and investment of money in the major medical insurance fund to the general fund.
(III) (A) On June 30, 2025, the state treasurer shall transfer one million six
hundred twenty-eight thousand two hundred sixty-five dollars from the major
medical insurance fund to the general fund.
(B) This subsection (1)(b.5)(III) is repealed, effective July 1, 2026.
(c) Moneys in the major medical insurance fund are continuously
appropriated to the division for the payment of benefits as provided in this section
and legal fees.
(1.5) (a) Notwithstanding any provision of this section to the contrary, on May
1, 2003, the state treasurer shall deduct one hundred fifty million dollars from the
major medical insurance fund and transfer such sum to the general fund.
(b) On July 1, 2003, the state controller shall transfer ten million dollars from
the general fund to the major medical insurance fund.
(1.6) Notwithstanding any provision of this section to the contrary, on March
30, 2009, the state treasurer shall deduct sixty-nine million five hundred thousand
dollars from the major medical insurance fund and transfer such sum to the general
fund.
(1.7) Notwithstanding any provision of this section to the contrary, on March
31, 2010, the state treasurer shall deduct twenty-six million five hundred thousand
dollars from the major medical insurance fund and transfer such sum to the general
fund.
(1.8) Notwithstanding any provision of this section to the contrary, on June
30, 2011, the state treasurer shall deduct ten million dollars from the major medical
insurance fund and transfer such sum to the general fund.
(1.9) Notwithstanding any provision of this section to the contrary, on June
30, 2025, the state treasurer shall transfer fifteen million dollars from the major
medical insurance fund to the general fund.
(2) The director shall administer the major medical insurance fund and is
hereby given jurisdiction to enforce the provisions of this article. The director shall
administer and conduct all matters involving the major medical insurance fund in
the name of the division, and, in that name and without any other name, title, or
authority, the director may:
(a) (I) Sue and be sued in all the courts of this state, of any other state, or of
the United States and in actions arising out of any act, deed, matter, or thing made,
omitted, entered into, done, or suffered in connection with the major medical
insurance fund and the administration or conduct of matters relating thereto,
including the authority to employ counsel to represent the fund in any action.
(II) Nothing in this paragraph (a) shall be construed to waive any provisions of
the Colorado Governmental Immunity Act, article 10 of title 24, C.R.S., nor shall it
be construed to waive immunity of the state of Colorado from suit in federal court,
guaranteed by the eleventh amendment to the constitution of the United States.
(b) Make and enter into contracts or obligations relating to the major
medical insurance fund as authorized or permitted under the provisions of articles
40 to 47 of this title, but neither the director nor any officer or employee of the
division shall be personally liable in any private capacity for or on account of any
act done or omitted or contract or other obligation entered into or undertaken in an
official capacity in good faith and without intent to defraud in connection with the
administration or conduct of the major medical insurance fund, its business, or
other affairs relating thereto;
(c) Contract with physicians, surgeons, and hospitals for medical and
surgical treatment, services and supplies, crutches and apparatus, and the care and
nursing of injured persons entitled to benefits from said fund and, in addition, may
contract for medical, surgical, hospital, and nursing services and supplies in excess
of the amount and period otherwise limited in this article if said director determines
that the contracting of such extra medical, surgical, hospital, and nursing services
and supplies will reduce the period of disability for which said fund would be liable
for the payment and compensation.
(3) to (5) Repealed.