The Colorado Division of Insurance has publicly posted its draft 1332 Waiver Amendment Request in regards to the Colorado Option and started the official public comment period for this request.
Public Comment Period: 10/15/21 - 11/15/21
View Colorado’s Draft 1332 Waiver Amendment Request for the Colorado Option
The Division requests that comments about the waiver be submitted no later than 5 PM, November 15, 2021, to DORA_Ins_Co_Option@state.co.us.
Public Meetings on the 1332 Waiver Request & Process: Nov. 9 & Nov. 10
These meetings will provide an opportunity for the public to ask questions and submit comments regarding the 1332 Waiver Request and the Colorado Option.
These will be virtual meetings only (via Zoom) and attendees must register to attend. Each meeting will cover the same information, so there is no need to attend both.
- Register for the Nov. 9 Meeting at the following link: https://us06web.zoom.us/meeting/register/tZcrcemtrDIuGdHVKCzlNlNI0FntC3DJhFYH?utm_medium=email&utm_source=govdelivery
- Register for Nov. 10 Meeting at the following link: https://us06web.zoom.us/meeting/register/tZUrfumhqjkjHdf6Jws14rH-cKfL56mdDcxv?utm_medium=email&utm_source=govdelivery
Should you require Accessibility Services for either meeting, please complete this Accessibility Services Request Form as soon as possible (and no later than Oct. 26) so that the Division can consider and make reasonable efforts to fulfill requests for accommodation and/or direct you to available resources or services.
Utilice este formulario para solicitar servicios de accesibilidad para estas reuniones antes del 26 de octubre de 2021 - Formulario de solicitud de Servicios de Accesibilidadas
What is the 1332 Waiver Request?
Like several other states, Colorado currently has federal approval to operate a Reinsurance Program. The current program matches State funding and federal pass-through funding to lower insurance premiums in the individual health insurance market.
This request will amend Colorado’s existing federal waiver, known as an ACA Section 1332 State Innovation Waiver Amendment. It will combine Colorado’s existing Reinsurance Program with the Colorado Option program, allowing the state to fully implement both. No other state has a federal waiver of this kind.
It is expected that this 1332 waiver, if granted federal approval, will allow Colorado to lower insurance premiums even further than the current Reinsurance Program, while addressing underlying costs, and providing additional subsidies to communities of color. Preliminary estimates indicate the waiver amendment could bring in an additional several million dollars to Colorado to support coverage and racial health equity.
Waiver Timeline
- 10/15/21 - 11/15/21: Public Comment, Tribal Consultation and Public Meetings
- 11/30/21: Application is expected to be submitted to the federal government
- Summer 2022: Expected Federal decision on waiver request
Background on the Colorado Option
The Colorado Option was enacted through HB21-1232, which was signed into law by Governor Polis in June 2021. The Colorado Option consists of three parts.
- Create Colorado Option plans that all insurance companies who sell products on the exchange or to small businesses must offer. These plans will offer better coverage at a lower cost for individuals, families, and small businesses
- Require these plans to reduce their premiums by 15% by 2025.
- Use federal “pass through” funds from the premium savings to provide coverage for people who don’t otherwise qualify for federal subsidies (i.e. undocumented Coloradans).
Find more information about the Colorado Option at the Division's Colorado Option website.
Please send any questions about the 1332 Waiver Request, the public meetings or the Colorado Option to Kyla Hoskins, Colorado Option Director - kyla.hoskins@state.co.us.