On May 2, COL INS proposed to amend rule re cost sharing reduction.
COL INS to amend COL INS 4-2-78 re cost-sharing reduction (CSR) enhancements.
Proposed Amendments
Applies to all carriers issuing non-grandfathered individual health benefit plans starting in benefit year 2025 and annually thereafter to outline cost-sharing reduction.
The proposal removes reference to 73% CSR enhancements within the regulation.
The metal actuarial value (AV) adjustment factors for the benefit year 2025 are 1.097 for Silver Base (70%), 1.021 for Silver 87% CSR, and 1.014 for Silver 94% CSR.
Consultation
Comments on proposed amendments are due by 5:00 pm on May, 8, 2024.
Jul. 2024 COL INS Draft Proposal
On Jul. 2, 2024, COL INS re-published draft amended Regulation 4-2-78 concerning cost sharing reduction enhancements, with comments due 5 pm on Jul. 12, 2024.
Republished version struck out the definition of substantially similar plan in regulation.
Jul. 16, 2024 COL INS Hearing Notice
On Jul. 16, 2024, COL INS reported a rule hearing is scheduled for Aug. 19, 2024.
COL SR Vol. 47 No. 19, 10/10/2024; Dec. 2024-00354, 9/19/2024; COL SR Vol. 47 No. 14, 7/25/2024; Nt, 7/16/2024; RF, 7/2/2024; RF, 5/2/2024; Citation: COL INS 4-2-78;
Functions
Actuarial and Valuation; Claims/Accelerated Benefits; Compliance; Product Administration; Underwriting
