DENVER - Today, the Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies (DORA), urged insurance carriers to provide relief to policyholders experiencing temporary financial hardship during the federal government shutdown. Commissioner Conway requested carriers consider the following measures:
- Provide a 30-day grace period for premium payments.
- Refrain from assessing late fees, penalties or cancellations related to delayed payments.
- Offer alternative payment arrangements to help consumers maintain continuous coverage.
- Communicate with affected policyholders about available options and accommodation.
“Federal employees, through no fault of their own, are currently not receiving a paycheck. But that doesn’t mean their bills disappear. I’m urging insurance carriers to take that into account and work with federal employees on their monthly payments until the federal government shutdown comes to an end,” said Colorado Insurance Commissioner Michael Conway.
The federal government shut down on October 1 after Congress failed to pass a government spending bill. During the shutdown, federal employees are either furloughed or are deemed essential and working without pay. There are roughly 57,000 federal workers in Colorado.
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