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HB19-1168

State Innovation Waiver Reinsurance Program

Concerning the creation of the Colorado reinsurance program to provide reinsurance payments to health insurers to aid in paying high-cost insurance claims, and, in connection therewith, authorizing the commissioner of insurance to seek approval from the federal government to waive applicable federal requirements, request federal funds, or both, to enable the state to implement the program and making the program contingent upon waiver or funding approval.
Session:
2019 Regular Session
Subject:
Health Care & Health Insurance
Bill Summary

The bill authorizes the commissioner of insurance to apply to the secretary of the United States department of health and human services for a state innovation waiver, for federal funding, or both, to allow the state to implement and operate a reinsurance program to assist health insurers in paying high-cost insurance claims. The state cannot implement the program absent waiver or funding approval from the secretary. The program is established as an enterprise for purposes of section 20 of article X of the state constitution. The division of insurance is to include an update regarding the program in its annual "SMART Act" report, and the program is subject to sunset review and repeal in 5 years.


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

Status

Introduced
Under Consideration

Bill Text

Upcoming Schedule