Colorado Division of Insurance: New Regulation & Insurance Bulletins:
- On March 19, 2020, the Colorado Division of Insurance adopted Emergency Regulation 20-E-02: “Concerning Establishing a COVID-19 Related Special Enrollment Period for Enrollment in an Individual Health Benefit Plan”. Here is a link to this Regulation: https://drive.google.com/file/d/1sdO5a6xMkfvEVfDX2WLAnkidqGKgqIyw/view. Pursuant to this Regulation, for those Colorado residents that are in the individual health benefit plan market but are not yet currently enrolled in a plan, you now have until April 3, 2020 in which to enroll (a “special enrollment period”). To apply, contact Connect for Health Colorado, a broker, an assister, or the carrier directly.
- On March 27, 2020, the Colorado Division of Insurance adopted Bulletin B-4.105: “Policy Directives for Small and Large Group Health Benefits Plans Related to COVID-19”. Here is a link to that Bulletin: https://drive.google.com/file/d/1VeVORK_6-1dEAXP6TDbKZ33gyD5vSc3D/view. Pursuant to this Bulletin, carriers offering small and large group health benefit plans in Colorado are directed to take the following actions:
A. Make reasonable accommodations to prevent businesses and employees form losing coverage due to non-payment of premiums, such as extended premium grace periods, waiving late payment fees or interest, and imposing a moratorium on cancellations for non-payment.
B. Make reasonable accommodations for employer requests to provide flexibility for health coverage policy provisions that would restrict or negatively impact employee eligibility and the continuation of coverage if an employee’s hours are reduced or if they are laid off or furloughed, which flexibility should include the ability for employees that initially declined coverage to enroll in coverage, among others.
C. Carriers are directed to work with employers and employees to facilitate the continuation of coverage as required by current state and federal law, and carriers should waive provisions that require employees to be enrolled in the employer’s health plan for a required length of time before becoming eligible for continuation, or apply only to certain classes of employees (i.e. full-time employees).
D. Employees that lose coverage are eligible for a 60-day special enrollment period to enroll in individual coverage.
- On March 27, 2020, the Colorado Division of Insurance adopted Bulletin B-5.38: “Actions to Protect Consumers with Property and Casualty Insurance Policies During the COVID-19 Public Health Emergency in Colorado.” Here is a link to this Bulletin: https://drive.google.com/file/d/1LkOHSK3lnHyL_bUXdFM7Rjx5cRZ4ndt7/view. Pursuant to this Bulletin, all insurance companies issuing coverage to personal and commercial policyholders are directed to make reasonable accommodations to prevent individuals and businesses from losing coverage due to cancellation for the non-payment of premium. Reasonable accommodations should include extending premium grace periods, waiver of late payment fees, a moratorium on cancellations for non-payment, deferring any non-renewal underwriting actions, and providing a continuation of coverage for any expiring policy. Carriers are further directed to made these accommodations available to the policyholders, and for them to be clearly explained on the insurer’s website.
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