S.B. 11-19 Health insurance - premiums - reimbursement by employers. Colorado law currently prohibits small employers (50 or fewer employees) from paying or reimbursing employees for the costs of health insurance premiums unless the small employer offers a small group health insurance plan. The act allows a small employer to reimburse an employee through wage adjustments or health reimbursement arrangements for any portion of a premium for a health coverage plan if the small employer does not have, and in the previous 12 months has not had, a small group health benefit plan for its employees.
APPROVED
by Governor March 29, 2011
EFFECTIVE March 29, 2011
S.B. 11-103 Health insurance - benefit design advisory committee - repeal under sunset law. The act repeals the benefit design advisory committee, as recommended by the department of regulatory agencies in its 2010 sunset review. The committee was appointed by the commissioner of insurance in 2006 to make recommendations to the general assembly regarding a medical evidence-based health benefit plan option as a choice among the basic health benefit plan options in the small group health insurance market. The committee fulfilled its statutory objective.
APPROVED
by Governor March 21, 2011
EFFECTIVE March 21, 2011
S.B. 11-128 Individual health insurance - child-only plan coverage - appropriation. As a condition of issuing coverage in the individual market, the act requires carriers to issue at least one child-only plan. The act establishes 2 specified enrollment periods in which child-only plan coverage must be offered. The plans must be issued on a guaranteed-issue basis without any limitations or riders based on health status. A carrier is required to give notice of the open enrollment opportunities and provide enrollment instructions on the carrier's web site. A carrier may deny or drop individual coverage under specific circumstances. A carrier must report application and enrollment information regarding child-only plans to the commissioner of insurance.
The act appropriates $2,935 to the department of law for implementation of the act.
APPROVED
by Governor April 29, 2011
EFFECTIVE April 29, 2011
S.B. 11-182 Life insurance - requirement for insurable interest required - unlawful engagement in stranger originated life insurance - unfair or deceptive insurance practice. The act creates the "Insurable Interest Act", which establishes a requirement that purchasers of life insurance policies have an insurable interest in the insured party. Stranger originated life insurance for the benefit of a third-party investor who, at the time of policy origination, has no insurable interest in the insured is prohibited. Also prohibited is wagering on life via life insurance. Engaging in stranger originated life insurance is made an unfair or deceptive act in the business of insurance.
APPROVED
by Governor May 27, 2011
EFFECTIVE May 27, 2011
S.B. 11-200 Health insurance - Colorado health benefit exchange - creation. The act creates the Colorado health benefit exchange (exchange) as a nonprofit unincorporated public entity. The exchange is governed by a board of directors consisting of 9 members appointed by the governor, the president of the senate, the speaker of the house of representatives, and the minority leaders of the senate and the house of representatives, and 3 ex officio nonvoting members. The board is responsible for:
The board may enter into information-sharing agreements with federal and state agencies and other state exchanges.
The act also establishes the legislative health benefit exchange implementation review committee (committee) to provide oversight of the exchange. The committee may report up to 5 bills or other measures to the legislative council each year. The committee is responsible for reviewing grants applied for by the board and for reviewing the financial and operational plans of the exchange.
Five years after the act becomes law, the legislative service agencies of the general assembly will conduct a post-enactment review of its implementation.
APPROVED
by Governor June 1, 2011
EFFECTIVE June 1, 2011
H.B. 11-1033 Property and casualty insurers - annual filings with commissioner - appropriation. All insurance companies doing business in this state must annually file with the commissioner of insurance a statement under oath that contains a variety of information relating to the companies' financial solvency, including the substance of the information required by what is known as the "convention blank form" adopted by the national association of insurance commissioners (NAIC). The act repeals the requirement that property and casualty insurers separately also file information contained in NAIC's schedule P of the convention blank form. The cash funds appropriation made in the 2011 long bill to the department of regulatory agencies, division of insurance, for operating expenses, is decreased by $5,333.
APPROVED
by Governor April 8, 2011
EFFECTIVE April 8, 2011
H.B. 11-1041 Colorado insurance guaranty association - updates to claims requirements. The Colorado insurance guaranty association assesses, when needed, insurance companies doing business in Colorado for revenues that it uses to pay insurance claims for insurance companies that become insolvent. Currently, claims must be filed with the association by a date set by the court with jurisdiction over the insolvent insurer. The act updates the association's statutes by:
APPROVED
by Governor March 11, 2011
EFFECTIVE August 10, 2011
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi of this digest.
H.B. 11-1186 Health insurance - reimbursement of providers - acupuncturists. Currently, when an insurance policy or plan provides for reimbursement for services performed by certain health care providers licensed to perform the services, a health insurance carrier cannot deny reimbursement when the services are performed. The act adds licensed acupuncturists to the list of health care providers that cannot be denied reimbursement.
APPROVED
by Governor April 8, 2011
EFFECTIVE Januray 1, 2012
NOTE: This act was passed without a safety clause. For further explanation concerning the effective date, see page vi of this digest.
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The information on this page is presented as an informational service only and should not be relied upon as an official record of action or legal position of the State of Colorado, the Colorado General Assembly, or the Office of Legislative Legal Services.