§ 10-16-1201. Short Title
The short title of this part 12 is the “Health Insurance Affordability Act”. Source: L. 2020: Entire part added, (SB 20-215), ch. 201, p. 986, § 1, effective June 30.
§ 10-16-1202. Legislative Declaration
The general assembly finds and declares that: The state, carriers, and hospitals share a common commitment to ensuring all Coloradans have access to affordable health care coverage because access to coverage improves health outcomes and provides financial security for Coloradans; Hospitals within the state incur the costs of uncompensated care to uninsured and underinsured populations; […]
§ 10-16-1203. Definitions
As used in this part 12, unless the context otherwise requires: “Board” means the health insurance affordability board created in section 10-16-1207. “Children’s basic health plan” has the meaning set forth in section 25.5-8-103 (2). “Enterprise” means the Colorado health insurance affordability enterprise created in section 10-16-1204. “Federal poverty line” has the same meaning as […]
§ 10-16-1204. Health Insurance Affordability Enterprise – Creation – Powers and Duties – Assess and Allocate Health Insurance Affordability Fee and Special Assessment
There is hereby created in the division the Colorado health insurance affordability enterprise. The enterprise is and operates as a government-owned business within the division for the purpose of assessing and collecting the health insurance affordability fee from carriers that offer health benefit plans in the state and a special assessment on hospitals in the […]
§ 10-16-1205. Health Insurance Affordability Fee – Special Assessment on Hospitals – Allocation of Revenues
Starting in the 2021 calendar year, the enterprise shall assess and collect from carriers, by July 15 each year, a health insurance affordability fee. The fee amount is based on the following percentages of premiums collected by the following carriers in the immediately preceding calendar year on health benefit plans issued in the state: (1) […]
§ 10-16-1206. Health Insurance Affordability Cash Fund – Creation
There is hereby created in the state treasury the health insurance affordability cash fund. The fund consists of: The fees collected from carriers pursuant to section 10-16-1205 (1)(a)(I); The special assessments collected from hospitals pursuant to section 10-16-1205 (1)(a)(II); An amount of premium tax revenues deposited in the fund pursuant to section 10-3-209 (4)(a)(III), not […]
§ 10-16-1207. Health Insurance Affordability Board – Creation – Membership – Powers and Duties – Subject to Open Meetings and Public Records Laws – Commissioner Rules
There is hereby created the health insurance affordability board, which board is responsible for governance of the enterprise established in this part 12. The board consists of the following eleven voting members: The executive director of the exchange or the executive director’s designee; The commissioner or the commissioner’s designee; and Nine members appointed by the […]
§ 10-16-1208. Limitation on Authority – Public Option
Nothing in this part 12 authorizes the enterprise, the board, or the commissioner to establish, administer, operate, or require participation by carriers or hospitals in a state or public option health coverage plan. Source: L. 2020: Entire part added, (SB 20-215), ch. 201, p. 997, § 1, effective June 30.