On Tuesday, July 16th, the Colorado Division of Workers’ Compensation, a branch of the Department of Labor and Employment (CDLE), announced the unveiling of its new online surcharge portal. The goal of the surcharge application, according to the website, is to “facilitate calculation of surcharge by insurers and self-insured employers alike.”
Surcharges are paid on a biannual basis by around 500 insurers and 100 self-insured employees to compensate the state for administrative costs to keep the Colorado workers’ compensation system up and running. Both insurers and self-insured employees pay a surcharge that is based on the percentage of their annual premium.
What the online surcharge application now does is make the entire process easier by allowing payers to use online calculator to add up their surcharge, while reducing the risk of errors, and save their filing information for up to 30 days before submitting it to the CDLE.
The system also allows payers to upload notarized signatures and attachments, which is useful for self-insured employers who must report multiple job classifications (for example, a farmer who hires day laborers).
Paul Tauriello, Director of the Division of Workers’ Compensation, says, “Our goal was to build an application that would deliver both convenience and accuracy for surcharge payments, and this new service delivers that.”
Before filing your surcharge application online using the new system, you will need:
- Company name
- Company address
- Contact information
- FEIN number
- Block number
- Notarized signature (by downloading the correct form)
Once you have these documents, there is a simple three-step process to file your application correctly. First, you must calculate your total surcharge using the online calculator. You will be asked a series of questions about your company to determine the amount.
Once you have calculated the surcharge, you can go ahead and file the required reports with the Division of Workers’ Compensation, using a previously set up confirmation number and FEIN to access and input the calculator information.
Lastly, you can pay your total surcharge electronically. The system will send you a confirmation of payment notice, as well as receipts and proof of compliance.
The surcharge application was made possible by a partnering between the CDLE, Division of Workers’ Compensation and Colorado.gov, and is in line with the CDLE’s strategic goals—initiatives that focus on customer service, partnerships, process improvement, and technology.
Check out the new surcharge online system for yourself by visiting Colorado.gov. And to discuss your individual workers’ comp case, please contact attorney R. Mack Babcock for a free consultation today.