CO HB1223

Amends Colorado Revised Statutes 10-16-111 to allow the Insurance Commissioner to determine which insurance carriers must submit annual cost information by June 1 each year, based on qualifications set by commissioner rule.

Requires carriers to submit three specific cost data points: the number of lives insured under each benefit plan offered to small employers, the cost of providing or arranging health care services, and a list of each intermediary with whom the carrier has a contractual relationship.

Mandates that when the Commissioner promulgates rules for cost information reporting, the rules must ensure that at least 92 percent of the market share reports cost information.

Includes a safety clause declaring the act necessary for the immediate preservation of public peace, health, and safety.

Bill was approved by Governor John W. Hickenlooper.