SB20-215: Health Insurance Affordability Act

• Creates the Colorado Health Insurance Affordability Enterprise to assess fees on health insurers (1.15% for nonprofits, 2.1% for for-profit carriers) starting in 2021 and a $20 million annual hospital assessment in 2022-2023 to fund health insurance affordability programs.

• Establishes the Health Insurance Affordability Board with 11 voting members to oversee the enterprise and recommend rules for distributing revenues to the reinsurance program, carrier subsidies, and state-subsidized health plans for qualified individuals earning up to 300% of federal poverty line.

• Allocates collected revenues to: fund the existing Colorado Reinsurance Program, provide payments to carriers to reduce individual market premiums for premium tax credit recipients, subsidize state-subsidized individual health coverage plans for qualified individuals, and support enrollment outreach and education activities.

• Creates the Health Insurance Affordability Cash Fund to receive all fees, assessments, and federal funding; designates the enterprise as a government-owned business operating under enterprise authority, not requiring voter approval for revenue bonds.

• Classifies the fees and assessments as non-tax business fees based on specific benefits provided to carriers and hospitals, consistent with Colorado Supreme Court precedent on enterprise revenue authority.