Request for Comment on DRAFT Proposed Emergency Regulation 22-E-XX - Concerning the Methodology for Calculating Premium Rate Reductions for Colorado Option Standardized Health Benefit Plans

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The Division is seeking comments on the following draft proposed emergency regulation:

The purpose of this emergency 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.

The Division of Insurance finds, pursuant to § 24-4-103(6)(a), C.R.S., that immediate adoption of this regulation is imperatively necessary to comply with state law and for the preservation of public health, safety, or welfare. By May 1, 2022, a carrier shall notify the Division of any reason it cannot offer a standardized plan at the premium rate target for 2023, pursuant to § 10-16-1306(2)(a), C.R.S. The Division is concerned about carriers’ abilities to develop and implement their standardized plans within this constrained timeline. The Division must allow carriers adequate time to implement their standardized plans and satisfy the May 1, 2022 deadline. Therefore, immediate adoption of this rule is imperatively necessary to allow carriers to comply with state law and compliance with the requirements of § 24-4-103, C.R.S., would be contrary to the public interest.

The Division is requesting informal comments be submitted to no later than 5 PM, January 20, 2022.

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

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