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Montana workers compensation fund needs $14 million infusion

The state-run insurance agency for injured workers needs a $14 million infusion of state tax dollars in order to remain solvent, new figures show.

The so-called Old Fund a pool of money set aside to pay the medical costs and lost wages for Montanans injured on the job before July 1990 is scheduled to run out of money in 10 years, information from the Montana State Fund shows. At that point, lawmakers will have to start bankrolling the fund for the next 30 years until all the injured workers covered by the fund either have no more claims or have died.

Work comp is the legally mandated insurance most employers must buy to pay for lost wages and medical expenses for workers injured on the job.

The new figures were presented by a national insurance expert at the October board meeting of the State Fund.

By Jennifer McKee of The Standard State Bureau

Full Story: http://www.mtstandard.com/articles/2005/11/01/newsstate_top/newsstate_top.txt

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