CO HB1160

Creates the "Colorado Prescription Drug Price Transparency Act of 2020" requiring health insurers, manufacturers, pharmacy benefit managers, and nonprofits to report prescription drug pricing data to the insurance commissioner starting in 2021.

Manufacturers must notify purchasers and the commissioner of drug price increases exceeding 10% annually, 16% over 24 months, or 20% over 36 months for drugs costing more than $50 per treatment course, with thresholds adjusted annually for inflation.

Commissioner must analyze reported data and publish annual reports on prescription drug cost effects on insurance premiums, including recommendations for legislative cost-containment measures; reports submitted to governor and legislative committees by December 1 each year.

Health insurers must reduce premiums by 100% of estimated rebates received from manufacturers for plans issued or renewed on or after January 1, 2022, passing savings directly to consumers.

Establishes penalties including fines up to $10,000 per day for health insurers failing to report, $10,000 per day for manufacturers violating notification requirements, and $10,000 for nonprofits failing to disclose funding sources.