A Bill for an Act
Page 1, Line 101Concerning the allocation of money in the health insurance
Page 1, Line 102affordability cash fund.
Bill Summary
(Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov.)
Current law requires that money deposited in the health insurance affordability cash fund (fund) is allocated as specifically outlined in statute for 2021 and each year thereafter. The bill requires the health insurance affordability board to reevaluate the allocation of money deposited in the fund on and after July 1, 2026, to:
- Prioritize the facilitation of reducing health coverage plan premium increases and avoiding the loss of health coverage plans for individuals in the individual market and individuals who are unable to purchase health coverage plans through the exchange; and
- Evaluate the costs of the state-subsidized individual health coverage plans purchased by qualified individuals and prioritize the reduction of the health coverage plan premiums for documented residents.
Page 2, Line 1Be it enacted by the General Assembly of the State of Colorado:
Page 2, Line 2SECTION 1. Legislative declaration. (1) The general assembly finds that:
Page 2, Line 3(a) The health insurance affordability board has a responsibility
Page 2, Line 4to prioritize documented Colorado residents when evaluating how to allocate the revenue within its cash fund;
Page 2, Line 5(b) Programs such as the OmniSalud program have limited the
Page 2, Line 6ability of other programs within the Colorado health insurance
Page 2, Line 7affordability enterprise to maximize their impact on documented Coloradans' health insurance costs; and
Page 2, Line 8(c) The health insurance affordability fee and the revenue it
Page 2, Line 9creates need to be allocated to demonstrate responsible fiscal spending by the Colorado health insurance affordability enterprise.
Page 2, Line 10(2) Therefore, the general assembly declares that:
Page 2, Line 11(a) The health insurance affordability board needs to evaluate and
Page 2, Line 12prioritize programs that have a direct impact on our most vulnerable
Page 2, Line 13communities, allocating additional funding to programs that have had a clear, direct impact on Coloradans; and
Page 2, Line 14(b) By directing money to documented residents, the state
Page 2, Line 15demonstrates its commitment to tax-paying Coloradans and to protecting
Page 2, Line 16those Coloradans who are at risk of losing their current health coverage plans.
Page 3, Line 1SECTION 2. In Colorado Revised Statutes, 10-16-1205, amend (2)(d)(I) introductory portion; and add (2)(e) as follows:
Page 3, Line 210-16-1205. Health insurance affordability fee - special
Page 3, Line 3assessment on hospitals - allocation of revenues - report -
Page 3, Line 4presentation. (2) (d) (I) The enterprise shall allocate the revenues
Page 3, Line 5collected in 2023 and each year thereafter through June 30, 2026, and
Page 3, Line 6any other money deposited in the fund in 2023 and each year thereafter through June 30, 2026, in the following amounts and order of priority:
Page 3, Line 7(e) (I) The enterprise shall allocate the revenues
Page 3, Line 8collected on and after July 1, 2026, and any other money
Page 3, Line 9deposited in the fund on and after July1, 2026, as determined by
Page 3, Line 10the board. In its determination of the allocation of money pursuant to this subsection (2)(e), the board shall:
Page 3, Line 11(A) Prioritize the facilitation of reducing health
Page 3, Line 12coverage plan premium increases and avoiding the loss of health
Page 3, Line 13coverage plans for individuals in the individual market and
Page 3, Line 14individuals who are unable to purchase health coverage plans through the exchange;
Page 3, Line 15(B) Evaluate the current costs of the state-subsidized
Page 3, Line 16individual health coverage plans purchased by qualified
Page 3, Line 17individuals, compare the current costs to the initial cost
Page 3, Line 18estimates, and prioritize the reduction of the health coverage plan premiums for documented residents; and
Page 3, Line 19(C) On the division's website, publish a report of the
Page 3, Line 20estimated and actual costs of each state-subsidized individual
Page 3, Line 21health coverage plan evaluated pursuant to subsection
Page 4, Line 1(2)(e)(I)(B) of this section and the required allocation of money
Page 4, Line 2in the fund as determined by the board resulting from the evaluations and cost comparisons.
Page 4, Line 3(II) The commissioner shall present the evaluations, cost
Page 4, Line 4comparisons, and allocation of money from the fund to the
Page 4, Line 5general assembly as part of the division's "SMART Act"
Page 4, Line 6presentation required by section 2-7-203 prior to or during the 2027 legislative session.
Page 4, Line 7SECTION 3. Act subject to petition - effective date. This act
Page 4, Line 8takes effect at 12:01 a.m. on the day following the expiration of the
Page 4, Line 9ninety-day period after final adjournment of the general assembly; except
Page 4, Line 10that, if a referendum petition is filed pursuant to section 1 (3) of article V
Page 4, Line 11of the state constitution against this act or an item, section, or part of this
Page 4, Line 12act within such period, then the act, item, section, or part will not take
Page 4, Line 13effect unless approved by the people at the general election to be held in
Page 4, Line 14November 2026 and, in such case, will take effect on the date of the official declaration of the vote thereon by the governor.