C116E4385C1BD8C88725868600717523 Hearing Summary

Representative Ricks, bill sponsor, introduced House Bill 21-1033.  The bill adds health maintenance organizations (HMOs) as members of the Colorado Life and Health Insurance Protection Association.  It requires the board of the association to develop a methodology to allocate assessments for long-term care insurance written by an impaired or insolvent insurer between health insurance and life insurance companies.  The size of the board is increased from a minimum of five to a minimum of seven and a maximum of nine to a maximum of eleven members.  The bill makes the collection of a surcharge on health insurance premiums to recoup assessments voluntary rather than mandatory.  Representative Ricks requested the committee postpone HB21-1033 indefinitely.