HB 17-1235 Summary

• Establishes a financial relief program operating from July 1, 2017 through December 31, 2018 to assist individuals and families in the three most costly insurance rating areas who spend more than 15% of household income on individual health insurance premiums purchased through the Colorado health benefit exchange.

• Provides eligibility for individuals and families with household incomes between 400% and 500% of the federal poverty line who are enrolled in bronze, silver, or gold level plans and do not have access to government-sponsored or affordable employer-sponsored insurance.

• Financial relief amount equals the lowest-cost bronze plan premium minus 15% of the applicant's household income, distributed quarterly by the Colorado health benefit exchange or participating county administering bodies.

• Appropriates $5,700,000 from the general fund to the Department of Health Care Policy and Financing for allocation to the health exchange to provide financial assistance.

• Program repeals September 1, 2019, unless Congress enacts legislation repealing the federal advance premium tax credit (26 U.S.C. Section 36B), in which case the program repeals upon that federal repeal date.