COL INS HCSPAs Reporting Regulation

On Nov. 27, COL INS proposed rule on health sharing plan reporting.

  • COL INS proposed new regulation on Health care sharing plans or arrangements (HCSPAs) reporting, under Colorado Code Div of Insurance, Title 4, COL INS 3-702-4.
  • Proposal establishes the data reporting requirements applicable to all HCSPAs offering plans or arrangements to facilitate payment or reimbursement of health-care cost.
  • Proposal
  • Regulation shall apply to all HCSPAs offering or marketing products to facilitate payment or reimbursement of health-care costs or services for residents of Colorado.
  • All HCSPAs must complete Health care sharing report (HCSR) by Mar. 1, 2024, for data for the 2023 calendar year and each March 1st thereafter, with data for the prior year.
  • All documents are to be emailed and attestation to be sent electronically to COL INS.
  • Noncompliance may result in civil penalties and issuance of cease-and-desist orders.
  • Consultation
  • Comments on the draft proposed regulation should be submitted by Dec. 4, 2023.
  • Dec. 29, 2023 COL INS Hearing Notice
  • On Dec. 29, 2023, COL INS issued a notice of hearing on proposal for Jan. 30, 2024.
  • Follows COL LEG Jun. 2022 bill on health care sharing plan reporting, see #139879.
  • Oral comments will be accepted for those who have registered to attend the webinar.
  • Persons must submit written comments by Feb. 2, 2024 if they cannot attend hearing.
  • Draft Regulation 4-10-01 is scheduled to become effective on Mar. 30, 2024.
  • Jan. 2024 COL INS Register Publication
  • On Jan. 10, 2024, COL INS published Proposed regulation 4-10-01 in State register.
  • Jan. 25, 2024 COL INS Hearing Notice
  • On Jan. 25, 2024, COL INS issued hearing notice date was changed to Mar. 1, 2024.
  • Comments on the updated reporting template can be submitted until Mar. 6, 2024.
  • Since the last version was published, Regulation 4-10-01 added health care provider definition, and new regulation effectiveness date has been scheduled for Apr. 30, 2024.
  • Feb. 2024 COL INS Hearing Publication
  • On Feb. 10, 2024, COL INS published the hearing notice in the Colorado State register.
  • Mar. 9, 2024 COL INS Reg Adoption
  • On Mar. 9, 2024, COL INS adopted new Regulation 4-10-1, effective Apr. 30, 2024.
  • Apr. 2024 COL INS AG Opinion
  • On Apr. 10, 2024, COL INS published Mar. 2024 AG opinion of rule, no legal deficiency.

Regulators COL INS
Entity Types Ins
Reference COL SR Vol. 45 No. 7, 4/10/2024; Dec, 3/25/2024; RF, 3/9/2024; Nt 2024-00041, COL SR Vol. 47 No. 3, 2/10/2024; Nt, RF Reg 4-10-01, 1/25/2024; COL SR Vol. 47 No. 1, 1/10/2024; Nt, RF Reg 4-10-01, 12/29/2023; RF, 11/27/2023; Citation: COL INS 3-702-4;
Functions Compliance; Financial; Operations; Reporting
Countries United States of America
Products Insurance; Insurance-Casualty; Insurance-Health; Insurance-Life
Regions Am
Rule Type Final
Rule Date 11/27/2023
Effective Date 4/30/2024
Rule Id 192618
Linked to N/A
Reg. Last Update 4/10/2024
Report Section US Insurance

Last substantive update on 04/16/2024