The Division would like to notify interested stakeholders that the Commissioner of Insurance has adopted the following emergency regulation:
Emergency Regulation 20-E-14 Minimum Standards for Medicare Supplement Policies
The purpose of this regulation is to provide for the reasonable standardization of coverage and simplification of terms and benefits of Medicare supplement policies; to facilitate public understanding and comparison of such policies; to eliminate provisions contained in such policies which may be misleading or confusing in connection with the purchase of such policies or with the settlement of claims; to provide for full disclosure in the sale of accident and sickness insurance coverage to persons eligible for Medicare; and to comply with the mandate of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) which prohibit the sale of Medicare supplement benefit policies that cover Medicare Part B deductibles to “newly eligible” Medicare beneficiaries defined as those individuals who become eligible for Medicare due to age, disability or end-stage renal disease, on or after January 1, 2020.
This emergency regulation is being issued to ensure that this regulation complies with current federal requirements, and to ensure that consumers whose Medicare Cost Plans are being discontinued prior to January 1, 2021, are able to enroll in an appropriate Medicare supplement plan. That language can be found in Section 11.E.2. of the regulation.
This emergency regulation replaces Colorado Insurance Regulation 4-3-1 in its entirety.
This emergency regulation, and other Division emergency regulations, can be found on the Division's Regulations page.
Find additional information on insurance and the COVID-19 public health emergency on the COVID-19 & Insurance page. This emergency regulation can be found under the health insurance tab.