On Apr. 11, 2025, COL INS issued notice of adoption for amended Regulation 4-2-82.
Regulation also provides notice templates for carrier’s exit from the health insurance market, modifications to current prescription drug formularies during current plan year
COL INS proposed amended Regulation 4-2-82 regarding notices to policyholders.
Amended to add a new letter for plans not modifying benefits and updated the use of the benefits change table as an appendix to the policyholder letters for clarity.
Amended Code of Colorado regulations, COL INS 3-702-4 (Life, accident, and health).
Proposed Amendments
Required carriers to use templates in Appendix I and J to inform policyholders with individual plans and small group plans that are not modifying or changing benefits.
Updated the formatting of templates in Appendix A and B relating to reasonable modifications notices for individual policyholder and for small group policyholders.
Added renewed definition to mean policy renewed upon earliest of annual anniversary date of issue, date premium rates can be changed, or date benefits can be changed.
If policy allows for change in premiums or benefits due to changes in State or federal requirements and is not a renewal, then such change will not be considered a renewal.
Consultation
Comments on the proposed amended regulation due by 5PM on Jan. 17, 2025.
Hearing on the proposed amended Regulation 4-2-82 will be held Mar. 17, 2025.
Mar. 3, 2025 COL INS Notice of Hearing
On Mar. 3, 2025, COL INS issued notice of hearing, and scheduled for Mar. 31, 2025.
Mar. 10, 2025 COL INS State Register
On Mar. 10, 2025, COL INS published draft rule and hearing notice in State register.
Apr. 2025 COL INS Rule Adoption
On Apr. 11, 2025, COL INS issued notice of adoption for amended Regulation 4-2-82.
Regulation also provides notice templates for carrier’s exit from the health insurance market, modifications to current prescription drug formularies during current plan year
Rule will become effective on May 30, 2025.
Regulators
COL INS
Entity Types
IB; Ins
Reference
Nt, 4/11/2025; COL SR Vol. 48 No. 5, 3/10/2025; Nt, 3/3/2025; COL SR Vol. 48 Is. 4, RF 2025-00050, 2/25/2025; PR, RF 4-2-82, 1/9/2025; Citation: COL INS 3-702-4;
