Health Insurance Affordability Measures

      Sections 1 through 8 of the bill modify the 'Health Insurance Affordability Act' to:

• Authorize the Colorado health insurance affordability enterprise (enterprise) to impose a one-time supplemental assessment, allocated equally among health insurance companies that meet specified criteria;
• Allow the enterprise to invest specified money in the health insurance affordability cash fund (cash fund) without regard to otherwise applicable requirements for such investments and to contract with private professional fund managers to advise on investment strategies;
• Modify the allocation of enterprise revenue among authorized purposes and allow the enterprise to reallocate unexpended amounts for specified purposes;
• Authorize a 25-year loan from the unclaimed property trust fund (trust fund) to the cash fund;
• Direct the health insurance affordability board, in recommending parameters for implementing subsidies for state-subsidized individual health coverage plans, to recommend coverage that prioritizes enrollment stability and customer predictability; when seeking input on its recommendations regarding plans, coverage, and the number of eligible slots, to enable feedback in at least English and Spanish and in other languages upon request; and to indicate how it incorporated such feedback into its final recommendations; and
• Direct the enterprise to conduct or contract a third party to conduct a study to evaluate the feasibility of restructuring the enterprise programs to increase health insurance affordability and maximize enrollment in health insurance plans.

      Section 9 directs the state treasurer to enter into a loan agreement with the enterprise authorizing an interest-bearing loan of $100 million from the trust fund to the cash fund, with required full repayment of the loan no later than 25 years after the date of the loan.

      Sections 10 and 11 expand the tax credits for contributions to the Colorado health benefit exchange (exchange) to also allow tax credits for contributions to the enterprise and, of the $9 million available for the tax credits, allocate $5 million to qualified taxpayers that make contributions to the exchange and $4 million to qualified taxpayers that make contributions to the enterprise.

(Note: This summary applies to this bill as introduced.)