Committee Actuarial Review Health Care Plan Legislation

The bill creates the health benefit plan design change review committee (committee) in the division of insurance to review introduced bills that impose new requirements on, or amend existing requirements of, health benefit plans. For any such bill, the committee shall conduct an actuarial review of the near-term effects of the bill, including: An estimate of the number of Colorado residents who will be directly affected by the bill; Estimates of changes in the rates of utilization of specific health care services that may result from the bill; Estimates concerning any changes in consumer cost sharing that would result from the bill; The financial impact, if any, of the bill on group benefit plans offered under the "State Employees Group Benefits Act", regardless of whether the bill makes any amendment to that act; The financial impact, if any, of the bill on medical assistance programs under the "Colorado Medical Assistance Act", regardless of whether the bill makes any amendment to that act; and The financial impact, if any, of the bill on small-, medium-, and large-sized business employers. The bill authorizes the commissioner of insurance to promulgate rules as necessary for the operation of the committee. (Note: This summary applies to this bill as introduced.)