CO SB065

Adds health maintenance organizations (HMOs) as member insurers subject to assessments in the Life and Health Insurance Protection Association.

Requires member insurers writing health benefit plans in Colorado to collect a monthly fee of up to $2 per certificate holder, policyholder, or contract holder and deposit fees into a Health Benefit Plan Fund for defraying health insurer insolvency costs.

Allocates responsibility for long-term care insurance assessments between health insurance and life insurance association members, with 56.4% to health account and 43.6% to life insurance and annuity accounts.

Expands board of directors from 5-9 to 7-11 members and requires fair representation between member insurers writing primarily life insurance versus health benefit plans.

Implements suspension of monthly fee collection when Health Benefit Plan Fund balance reaches $75 million and reinstatement when balance drops to $25 million, with annual inflation adjustments beginning January 1, 2019.