CO HB1392

Creates the Colorado Reinsurance Program to provide reinsurance payments to health insurers to help cover high-cost insurance claims for individuals in the state's individual health insurance market.

Authorizes the Commissioner of Insurance to apply to the federal government for a state innovation waiver under Section 1332 of the Affordable Care Act, federal funding, or both to implement the program, with program operation contingent upon federal approval.

Establishes payment parameters (attachment point, reinsurance cap, coinsurance rate) with specific targets for 2019: 30-35% claims cost reduction in regions 5 and 9; 20-25% reduction in regions 4, 6, 7, and 8; and 15-20% reduction in regions 1, 2, and 3.

Funds the program through federal pass-through funding, special assessments on insurers (capped at 2% of premiums), and gifts or grants, with all revenues deposited into a dedicated Reinsurance Program Cash Fund.

Designates the program as a state enterprise, subject to sunset repeal on September 1, 2023, or earlier if the federal waiver or funding request is denied; requires annual reporting to the legislature and state auditor oversight.