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Workers' compensation commission urges recurring funding or $100,000 bridge to avoid insolvency
Summary
The director of the CNMI Workers' Compensation Commission told the House Ways and Means committee the fund that covers public-sector claims has a low cash balance and asked the legislature to commit either half of 1% of payroll (about $315,976 annually) or a $100,000 temporary allocation to keep the program solvent.
The director of the Commonwealth's Workers' Compensation Commission told the House Committee on Ways and Means that the commission's operating balance is low and asked the legislature for a recurring funding mechanism or a short-term allocation.
"We have approximately $174,000 in the bank strictly for operation and payment of claims," Director Francisco Cabrera told the committee, adding that the balance was $148,000 "as of today." Cabrera said the commission is not tapping a separate $1.5 million balance that largely comes from private-sector collections and is reserved for a second-injury fund.
Why it matters: the workers' compensation statute assigns responsibility for covering…
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