C.R.S. § 13-64-201

(1) The general assembly declares the purposes of enacting this part 2 are to: (a) Alleviate the practical problems incident to the unpredictability of future losses; (b) Effectuate more precise awards of damages for actual losses; (c) Pay damages as the losses are found to accrue; (d) Assure that payments of damages more nearly serve the purposes for which they are awarded; (e) Reduce the burden on public assistance costs created by the dissipation of lump-sum payments; and (f) Conform to the income tax policies in the federal “Internal Revenue Code of 1986” and the laws of this state with respect to compensation for personal injuries.