C.R.S. § 8-42-123

(1) When, as a proximate result of an injury, death occurs to an injured employee, there shall be paid in one lump sum within thirty days after death a sum not to exceed twelve thousand five hundred dollars for funeral and burial expenses. Said sum may be paid to the person providing funeral or burial services or any other person who has paid the funeral and burial costs. If the employee leaves no dependents, compensation is limited to said sum and the compensation that may have accrued or been paid to the deceased employee during the deceased employee’s lifetime for disability; the medical, surgical, and hospital expenses provided in articles 40 to 47 of this title 8; and any amount or payment due under section 8-46-101 . If the deceased employee leaves dependents, said sum shall be paid in addition to all other sums of compensation provided for in this article 42. (2) On July 1, 2023, and each July 1 thereafter, the director shall adjust the maximum amount payable for funeral and burial expenses provided in subsection (1) of this section by the percentage of the adjustment made by the director to the state average weekly wage pursuant to section 8-47-106 .