Senate Bill 21-063 Summary

• Creates a waiver pathway for multiple employer welfare arrangements (MEWAs) to offer health care benefits by meeting specified requirements outlined in new subsection (7)(d) of Colorado Revised Statutes 10-3-903.5.

• Requires waiver applicants to submit comprehensive documentation including articles of incorporation, membership criteria, management information, criminal background checks for key individuals, financial statements, and proof of stop-loss insurance.

• Establishes minimum financial standards of $2 million in unallocated reserves, a $200,000 fidelity bond, and quarterly financial reporting to the Commissioner.

• Mandates MEWAs provide nondiscriminatory coverage matching federal Affordable Care Act requirements and state-mandated health benefits, prohibits conditioning membership on health status, and restricts coverage to members of the arrangement.

• Grants waivers for two-year periods with potential for indefinite renewal after five consecutive approvals; MEWAs remain subject to full Division of Insurance enforcement authority.

• Appropriates $13,352 to the Division of Insurance for additional staffing (0.2 FTE) to implement the act.