CO SB005

Prohibits health insurance carriers from requiring or incentivizing providers to collect coinsurance, copayments, or deductibles directly from covered persons; carriers must collect all cost-sharing amounts directly from the covered person in one consolidated bill per episode of care.

Requires carriers to reimburse providers directly for the full contracted rate, including any applicable coinsurance, copayment, or deductible amounts owed by the covered person.

Mandates carriers develop and communicate financial assistance, charity care, and payment plan policies to covered persons through websites, billing statements, and in multiple languages.

Exempts integrated health care delivery systems (where providers operate under the same corporate umbrella as the carrier) and pharmacy services from the consolidated billing requirements.

Becomes effective January 1, 2022, subject to referendum petition; applies to health coverage plans issued or renewed on or after the effective date.