SB 18-132 Summary

• Commissioner of Insurance must conduct actuarial analysis to determine if offering catastrophic health plans to persons age 30+ would reduce advanced premium tax credits or increase average individual health plan premiums in Colorado.

• If actuarial analysis shows no decline in tax credits and no increase in premiums, Commissioner shall apply to federal Secretary of Health and Human Services for a five-year state innovation waiver under Section 1332 of the Affordable Care Act by January 1, 2019.

• Catastrophic health plans offered under waiver approval may only be sold through the health benefit exchange and are not eligible for advanced premium tax credits; draft waiver application must be posted for public review by December 1, 2018.

• Section automatically repeals on January 1, 2023, or if federal waiver is denied or extension is denied after approval; Commissioner must report waiver implementation and effects to legislative committees prior to 2022 regular session.

• Appropriates $9,200 from the division of insurance cash fund for 2018-19 fiscal year for personal services to implement the act.