The Division would like to provide notice that the Commissioner has adopted the following regulation:
The purpose of this regulation is to promulgate rules applicable to the filing of new and/or revised policy forms, new policy form listings, annual reports of policy forms, and certifications of policy forms and contracts, other than health benefit plan forms, for the Colorado Option standardized bronze, silver and gold health benefits plans to be offered by all carriers offering individual and small group health benefits plans issued or renewed on or after January 1, 2023.
Per Colorado Emergency Regulation 22-E-08, the Colorado Option Standardized Health Benefit Plans (Standardized Plans) must offer coverage that is compliant with the Mental Health Parity and Addiction Equity Act of 2008 (MHPAEA) as defined at § 10-16-102(43.5), C.R.S. To ensure MHPAEA compliance, the Division required carriers to submit the annual MHPAEA financial requirements and quantitative treatment limitations filings for their Standardized Plans by April 1, 2022. After the completion of its testing, the Division determined changes were required to the Standardized Plan designs for MHPAEA compliance, which are reflected in this regulation. The provisions of the finalized 2023 Notice of Benefit and Payment Parameters are also reflected in this regulation.
This regulation will become effective on June 30, 2022.
This Division would also like to provide notice of a CORRECTION to the following regulation, which was recently adopted:
The purpose of this regulation is to establish rules for the required premium reduction methodology for the Colorado Option standardized bronze, silver and gold health benefits plans to be offered by all carriers offering individual and small group health benefits plans issued or renewed on or after January 1, 2023.
Since this regulation was adopted, the Division has learned that the premium rate reduction formula contains an error, specifically regarding the adjustment for non-Essential Health Benefits (non-EHB). The corrected version of this regulation adjusts this portion of the calculation to correct the error.
This regulation will still become effective on June 14, 2022.
Regulations that have been adopted, but are not yet effective can be found on the Division's Regulations Adopted But Not Yet Effective website.