(1) The board is the governing body of the exchange and has all the powers and duties necessary to implement this article 22. The board shall:
(a) Appoint an executive director to administer the exchange, subject to approval by the committee;
(b) Create an initial operational and financial plan, subject to approval by the committee;
(c) Apply for planning and establishment grants made available to the exchange pursuant to the federal act and apply for, receive, and expend other gifts, grants, and donations. Each grant application is subject to the review and unanimous approval of the board chair and the chair and vice-chair of the committee prior to the submission of the application. If there is not unanimous approval, each grant application is subject to review and the majority approval of the committee.
(d) Create technical and advisory groups to operate on an ongoing basis and to report to the board and provide guidance at the direction of the board on issues that directly or indirectly affect consumers. The board shall use reasonable efforts to ensure that the technical and advisory groups reflect geographic diversity and diverse opinions on issues affecting consumers. The technical and advisory groups shall meet as necessary to discuss issues related to the exchange and to make recommendations to the board.
(e) Provide a written open enrollment report to the governor and the general assembly annually and present an open enrollment update to the senate health and human services committee and the house of representatives health and human services committee, or their successor committees, during each legislative session;
(f) Review the internet portal operated and maintained by the secretary and the model template for an internet portal made available by the secretary for use by the state exchanges and review other appropriate internet portals. The review must include an examination as to whether the model template may be used to direct individuals and employers to health plans, to assist individuals and employers in determining whether they are eligible to participate in the exchange or eligible for a premium tax credit or cost-sharing reduction, and to present standardized information regarding health plans offered through the exchange to assist consumers in making health insurance choices.
(g) Consider the desirability of structuring the exchange as one entity that includes two underlying entities to operate in the individual and the small employer markets, respectively;
(h) Consider the appropriate size of the small employer market under the exchange, taking into consideration the definition of small employer pursuant to section 10-16-102;
(i) Consider the unique needs of rural Coloradans as they pertain to access, affordability, and choice in purchasing health insurance;
(j) Consider the affordability and cost in the context of quality care and increased access to purchasing health insurance; and
(k) Investigate requirements, develop options, and determine waivers, if appropriate, to ensure that the best interests of Coloradans are protected.
(2) The board may enter into information-sharing agreements with federal and state agencies and other state exchanges to carry out its responsibilities under this article so long as the agreements include adequate protections with respect to the confidentiality of the information that is shared and comply with all state and federal laws, rules, and regulations.
(3) The board may create a separate program that shares resources and infrastructure with the exchange to offer ancillary products.
(4) The board may enter into an agreement with the department of personnel to authorize administrative law judges employed by the office of administrative courts to hear and decide matters arising from eligibility and other determinations made by the exchange consistent with applicable state and federal law.
(5) (a) The board, with public input, shall set a policy that makes clear which actions by the exchange require public scrutiny and shall make the policy available to the committee. In determining which actions require public scrutiny, the board shall consider the effects the exchange's actions have on consumers.
(b) Prior to taking an action that requires public scrutiny, the exchange shall post notice of the planned action on the exchange website at least three weeks prior to the date of the board meeting at which the action will be discussed. The exchange shall provide time for public comments and questions at the board meeting and post the final action on the exchange website.
(c) The board may adopt an action without compliance with paragraph (b) of this subsection (5) if the board finds that immediate adoption is necessary to avoid disruption of the continuing operation of the exchange. The exchange shall make the action and the reasons for the action available to the public and the committee.
Source: L. 2011: Entire article added, (SB 11-200), ch. 246, p. 1076, � 1, effective June 1. L. 2013: (3) and (4) added, (HB 13-1245), ch. 258, p. 1360, � 2, effective May 23. L. 2014: (4) amended, (HB 14-1363), ch. 302, p. 1262, � 5, effective May 31. L. 2016: (1)(d) amended and (5) added, (HB 16-1148), ch. 40, p. 99, � 1, effective June 1. L. 2024: IP(1), (1)(d), and (1)(e) amended, (HB 24-1035), ch. 44, p. 158, � 1, effective August 7.
10-22-107. Colorado health insurance exchange oversight committee - creation - duties - repeal. (1) (a) For the purposes of guiding implementation of an exchange in Colorado, making recommendations to the general assembly, and ensuring that the interests of Coloradans are protected and furthered, there is hereby created the Colorado health insurance exchange oversight committee. The committee shall meet at the call of the chair at least one time during each calendar year when the general assembly is not in session but no more than seven times during each calendar year when the general assembly is not in session. The committee may meet an unlimited number of times at the call of the chair when the general assembly is in session. The committee may use the legislative council staff to assist its members in researching any matters.
(b) Repealed.
(c) (I) Notwithstanding subsection (1)(a) of this section, the committee shall not meet during the 2025 interim.
(II) This subsection (1)(c) is repealed, effective July 1, 2026.
(2) (a) The president of the senate shall appoint three members to the committee. Two appointees must be members of the senate health and human services committee; the senate business, labor, and technology committee; the legislative audit committee; or their successor committees. One appointee must be a representative of the senate at large.
(b) The speaker of the house of representatives shall appoint three members to the committee. Two appointees must be members of the house of representatives health and human services committee, the house of representatives business affairs and labor committee, the legislative audit committee, or their successor committees. One appointee must be a representative of the house of representatives at large.
(c) The minority leader of the senate shall appoint two members to the committee. One appointee must be a member of the senate health and human services committee; the senate business, labor, and technology committee; the legislative audit committee; or their successor committees. One appointee must be a representative of the senate at large.
(d) The minority leader of the house of representatives shall appoint two members to the committee. One appointee must be a member of the house of representatives health and human services committee, the house of representatives business affairs and labor committee, the legislative audit committee, or their successor committees. One appointee must be a representative of the house of representatives at large.
(e) Members of the committee shall serve at the pleasure of the appointing authority.
(3) Members of the committee shall serve without compensation; except that each member shall receive the sums specified in section 2-2-307 (3)(a) and (3)(b), C.R.S., for attendance at meetings of the committee when the general assembly is in recess for more than three days or is not in session.
(4) During odd-numbered years, the president of the senate shall appoint the chair, and the speaker of the house of representatives shall appoint the vice-chair of the committee. During even-numbered years, the speaker of the house of representatives shall appoint the chair, and the president of the senate shall appoint the vice-chair of the committee.
(5) (a) In any year, the committee may report up to eight bills or other measures to the legislative council created in section 2-3-301. These bills are exempt from any applicable bill limit imposed on the individual committee members sponsoring such bills if the bills have been approved by the legislative council under joint rules of the senate and house of representatives.
(b) Repealed.
(c) (I) Notwithstanding subsection (5)(a) of this section, the committee shall not report to the legislative council and shall not recommend legislation during the 2025 interim.
(II) This subsection (5)(c) is repealed, effective July 1, 2026.
(6) The committee shall review grants applied for by the board to implement the exchange.
(7) The exchange shall annually present to the committee the financial and operational plans of the exchange and the major actions taken by the board, particularly actions that affect consumers. The committee shall review the financial and operational plans of the exchange and the major actions taken by the board.
Source: L. 2011: Entire article added, (SB 11-200), ch. 246, p. 1078, � 1, effective June 1. L. 2013: (1) and (7) amended, (HB 13-1245), ch. 258, p. 1360, � 3, effective May 23. L. 2015: (1) and (5) amended, (SB 15-256), ch. 284, p. 1166, � 2, effective June 5. L. 2016: (7) amended, (HB 16-1148), ch. 40, p. 100, � 2, effective June 1. L. 2020: (1) and (5) amended, (SB 20-214), ch. 200, p. 981, � 7, effective June 30. L. 2024: (1)(a), (2), and (7) amended, (HB 24-1035), ch. 44, p. 159, � 2, effective August 7. L. 2025: (1)(c) and (5)(c) added, (SB 25-199), ch. 149, p. 567, � 6, effective April 30.
Editor's note: Subsections (1)(b)(II) and (5)(b)(II) provided for the repeal of subsections (1)(b) and (5)(b) respectively, effective July 1, 2021. (See L. 2020, p. 981.)
10-22-108. Moneys for implementation, operation, and sustainability of the exchange. Moneys received by the board for the implementation of this article, and for building reserves for the operation and sustainability of the exchange pursuant to section 10-22-109, must be transferred directly to the exchange for the purposes of this article. The board shall deposit any moneys received in a banking institution within or outside the state. Moneys from the general fund shall not be used for the implementation of this article, except for the sums specified in section 10-22-107 (3) and for legislative staff agency services. The account of the banking institution must be insured by the federal deposit insurance corporation and compliant with the Public Deposit Protection Act, article 10.5 of title 11, C.R.S.
Source: L. 2011: Entire article added, (SB 11-200), ch. 246, p. 1079, � 1, effective June 1. L. 2013: Entire section amended, (HB 13-1245), ch. 258, p. 1360, � 4, effective May 23.
10-22-109. Funding for the operation of the exchange and reserves - special fees - rules. (1) On and after January 1, 2014, among other funding sources derived through the operation of the exchange, funding for the exchange may be from the following sources:
(a) Special fees assessed against insurers as provided in subsection (2) of this section; and
(b) Any moneys accepted through gifts, grants, or donations received by the board for operation, reserves, and sustainability of the exchange, including contributions received pursuant to the premium tax credit allocation in section 10-22-110.
(c) Repealed.
(2) (a) On and after January 1, 2014, through December 31, 2016, the board shall assess special fees against insurers in an amount necessary to provide funding for the exchange. The board shall determine the amount of the special fees based on the board-approved financial plan and anticipated budgetary needs for the upcoming year to comply with this article and associated federal requirements. The special fees must not exceed one dollar and eighty cents per number of lives insured per month; except that the special fees assessed for lives insured under dental plans must not exceed eighteen cents per number of lives insured per month. The board shall use special fees assessed pursuant to this section for the operating expenses of the exchange, the reserves of the exchange, and related agreements.
(b) The board shall use any money received pursuant to section 10-8-536 (2), as enacted in House Bill 13-1115, enacted in 2013, from the reserves of CoverColorado, as created by part 5 of article 8 of this title, and any moneys received from the unclaimed property trust fund to offset the amount of the fees assessed against insurers pursuant to this subsection (2); except that the money received must not be used to offset the special fees paid by dental plans.
(c) Amounts assessed against insurers to be paid to the exchange pursuant to this subsection (2) are not considered premiums for any purpose, including the computation of gross premium tax or agents' commission.
(d) If an insurer fails to pay the special assessment fee, the commissioner may, after proper notice and hearing, suspend or revoke the insurer's certificate of authority to transact insurance business in this state.
(3) The commissioner shall promulgate rules to implement this section that include:
(a) The reasonable time periods for the billing and collection of the special fees; and
(b) The process for determining the allocation of the assessment among insurers, including the process for obtaining accurate information about the number of policies issued and lives insured by an insurer within the six months prior to the assessment.
Source: L. 2013: Entire section added, (HB 13-1245), ch. 258, p. 1361, � 5, effective May 23. L. 2017: (1)(c) repealed, (SB 17-294), ch. 264, p. 1385, � 10, effective May 25.
10-22-110. Tax credit for contributions to the exchange - allocation notice - rules - repeal. (1) (a) For the tax year 2013 and each tax year thereafter, a credit against the tax imposed by sections 10-3-209 and 10-6-128 is allowed to any insurance company that becomes a qualified taxpayer by making a contribution to the exchange pursuant to this section.
(b) A qualified taxpayer claiming a credit against premium tax liability under this section is not required to pay any additional retaliatory tax as a result of claiming the credit.
(2) The commissioner may promulgate rules necessary for the administration of the tax credit allowed by subsection (1) of this section in accordance with article 4 of title 24, C.R.S.
(3) (a) Subject to subsection (4)(c) of this section, an insurance company shall become a qualified taxpayer if all of the following conditions are met:
(I) The insurance company declares with its quarterly tax payment due on or about July 31 in the manner prescribed by the commissioner its intent to contribute to the exchange on or before October 31 an amount of money equal to the premium taxes paid by the company pursuant to the July 31 tax payment or a lesser amount as specified by the commissioner if required pursuant to paragraph (b) of subsection (4) of this section;
(II) The total amount of the tax credits granted by the commissioner does not exceed five million dollars; except that, on and after September 1, 2022, through August 31, 2028, the total amount of the tax credits does not exceed nine million dollars; and
(III) The insurance company receives an allocation notice from the commissioner and the insurance company makes the contribution to the exchange as specified in the allocation notice on or before October 31.
(b) Subject to paragraph (c) of subsection (4) of this section, an insurance company that becomes a qualified taxpayer may claim the tax credit on one or more subsequent quarterly or annual tax payments beginning on or about October 31.
(c) The board shall promptly notify the commissioner when it receives a contribution pursuant to this section of the amount and date of the contribution and the name of the contributor.
(4) (a) Subject to paragraph (c) of this subsection (4), by September 30 of each year, the commissioner shall:
(I) Send an allocation notice to each insurance company whose declaration of intent to contribute to the exchange has been accepted pursuant to this subsection (4). The allocation notice shall specify the amount of tax credits allocated to the insurance company and the amount of cash the insurance company must contribute to the exchange by October 31, which amounts shall be identical and not exceed the amount of premium taxes paid by the insurance company in its quarterly tax payment due on or about July 31.
(II) Post on the division's website whether the full amount of tax credits authorized to be allocated each year has been allocated.
(b) (I) Subject to subsection (4)(c) of this section, the commissioner shall allocate no more than the following total amounts of premium tax credits per year:
(A) Before September 1, 2022, a total of five million dollars;
(B) On and after September 1, 2022, through August 31, 2028, a total of nine million dollars; and
(C) On and after September 1, 2028, a total of five million dollars.
(II) Except as provided in subsection (4)(b)(III) of this section, the commissioner shall allocate to an insurance company that has declared its intent to contribute to the exchange pursuant to this section tax credits in an amount equal to the amount of premium taxes paid by the insurance company in its quarterly tax payment due on or about July 31 in the order in which the division receives such quarterly tax payments until the full amount of credits available pursuant to this section has been allocated.
(III) If the amount of premium taxes or the sum of all the premium taxes filed by all the insurance companies on any one day would exceed, singly or in the aggregate, the annual maximum aggregate amount of tax credits available under this section, the commissioner shall reduce the allocation to the insurance company whose contribution first exceeds the annual maximum aggregate to the amount needed to satisfy the annual maximum aggregate. If the commissioner is unable to determine the order of receipt of tax payments on that day, the commissioner shall allocate the tax credits to the company or among the companies on a pro rata basis based on the ratio such company's quarterly tax payment bears to the total amount of all such companies' quarterly tax payments until the full amount of credits available pursuant to this section has been allocated.
(c) (I) The commissioner shall allow insurance companies to declare their intent to contribute to the exchange pursuant to this section on the insurance companies' quarterly tax payments due on or about October 31 and shall send such companies allocation notices by February 1 if:
(A) The full amount of tax credits available in any one year have not been fully allocated by the commissioner pursuant to statements of intent filed with insurance companies' quarterly tax payments due on or about July 31; or
(B) The total amount of tax credits has been claimed, but one or more insurance companies failed to timely make a contribution to the exchange.
(II) An insurance company that declares its intent to contribute to the exchange pursuant to this paragraph (c) shall make the contribution to the exchange as specified in the allocation notice on or before March 1 and may claim the tax credit on one or more subsequent quarterly or annual tax payments due on or about March 1.
(5) The board shall use money contributed to the exchange as follows:
(a) The amount of contributions from insurers to which the first five million dollars of tax credits is allocated pursuant to subsection (4)(b) of this section and the interest derived from the deposit and investment of the money, to operate and sustain the exchange and to build reserves; except that, on and after September 1, 2028, the total amount of contributions and interest derived from the deposit and investment of the money shall be used for the purposes specified in this subsection (5)(a).
(b) (I) Any amount of contributions from insurers to which any amount in excess of the first five million dollars of tax credits is allocated pursuant to subsection (4)(b) of this section and the interest derived from the deposit and investment of the money, for the public awareness and education campaign in section 10-22-115.
(II) This subsection (5)(b) is repealed, effective December 31, 2028.
Source: L. 2013: Entire section added, (HB 13-1245), ch. 258, p. 1362, � 5, effective May 23. L. 2022: IP(3)(a), (3)(a)(II), (4)(b), and (5) amended, (SB 22-081), ch. 448, p. 3160, � 2, effective August 10.