The Division is seeking comments on the following draft proposed emergency regulation and bulletin:
The purpose of this emergency regulation is to provide the requirements for property and casualty insurance companies to comply with §§ 10-3-139 and 10-3-1119, C.R.S., as amended by House Bill 23-1004 (HB23-1004)
The Division of Insurance finds, pursuant to § 24-4-103(6)(a), C.R.S., that immediate adoption of this emergency regulation is imperatively necessary to preserve public health, safety, or welfare to allow property and casualty insurance carriers sufficient time to implement and comply with with the requirements HB23-1004 prior to its effective date of January 1, 2024. Several stakeholders have requested the Division of Insurance (Division) issue an emergency regulation to provide guidance prior to the effective date of the underlying statute. The Division is in the process of noticing a permanent regulation and is adopting this emergency regulation to ensure compliance and provide industry guidance prior to and on the effective date of HB23-1004. Therefore, in order to ensure compliance with the language requirements for insurance policy documents contained within HB23-1004 and to provide carriers with adequate time to implement the changes therein, compliance with the requirements of § 24-4-103, C.R.S., would be contrary to the public interests.
The purpose of this bulletin is to provide carriers with the annual maximum benefit amount for early intervention services for grandfathered individual health benefit plans and all other individual and group sickness and insurance policies or contracts, subject to Part 2 of Article 16 of Title 10, and all service or indemnity contracts issued by an entity subject to Part 3 or Part 4 of the same Article that include dependent coverage. Grandfathered individual health benefit plans, as defined at § 10-16-102(31), C.R.S., means an individual health benefit plan provided to an individual by a carrier on or before March 23, 2010, that continues to maintain its grandfathered status in accordance with state and federal law.
Please submit your comments on this draft proposed emergency regulation and this draft proposed bulletin to DORA_INS_RulesandRecords@state.co.us no later than 5 PM, October 17, 2023.
This draft proposed emergency regulation, as well as other draft regulations currently released for informal public comment, can be found on the Division's DRAFT Regulations and Bulletins for Informal Public Comment website.
This draft proposed bulletin, as well as other draft bulletins currently released for informal public comment, can be found on the Division's DRAFT Regulations and Bulletins for Informal Public Comment website.