The Division is seeking comments on the following draft proposed amended regulation:
DRAFT Proposed Amended Regulation 4-3-1 - 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 regulation is being amended to incorporate the changes made to Section 11.E. in Emergency Regulation 20-E-14 into the permanent version of the regulation.
The Division is requesting informal comments be submitted to DORA_INS_RulesandRecords@state.co.us no later than 5 PM, November 27, 2020.
This draft regulation, as well as other draft regulations currently released for informal public comment, can be found on our page for Draft Regulations and Bulletins for Informal Comments.