Senate Bill 20-176 Summary

• Declares that sections 10-3-1115 and 10-3-1116 of Colorado Revised Statutes are remedial legislation to be construed broadly to effectuate their remedial purposes.

• Voids any insurance policy, contract, or plan provision that reserves discretion to the insurer, plan administrator, or claim administrator to interpret policy terms or determine benefit eligibility.

• Entitles individuals whose health or disability insurance claims have been denied and who have exhausted administrative remedies to de novo court review and trial by jury.

• Expands the definition of "issued in this state" to apply to all health and disability insurance policies, contracts, certificates, and agreements existing or renewed in Colorado or covering Colorado residents, regardless of employer location or choice-of-law provisions, effective August 5, 2008 forward.

• Takes effect August 5, 2020, unless subject to a referendum petition, in which case it requires voter approval at the November 2020 general election.