CO SB127

Creates the Health Benefit Plan Design Change Review Committee as a Type 2 entity within the Division of Insurance to conduct actuarial reviews of legislation affecting health benefit plan requirements

Committee consists of 9 members: one Senate Health and Human Services Committee member, one House Health and Insurance Committee member, and seven governor-appointed members representing carriers, providers, consumers, hospitals, the Division of Insurance, Department of Health Care Policy and Financing, and an actuary

Committee must conduct actuarial reviews of introduced bills imposing or amending health benefit plan requirements, including estimates of affected Colorado residents, changes in health care service utilization rates, consumer cost sharing changes, and financial impacts on state employee benefits, medical assistance programs, and employers by size category

On and after January 1, 2021, committee chairs of reference must request actuarial reviews from the health benefit plan design change review committee for any introduced health benefit plan legislation

Initial committee appointments must be made by November 1, 2020; governor-appointed members serve five-year terms except initial terms are staggered one to four years