Bill > HB1297

This bill updates Colorado's Health Insurance Affordability Enterprise (HIAE) by authorizing the commissioner of insurance to increase the health insurance affordability fee by up to one percentage point starting in 2026. The bill aims to maintain affordable health insurance options by allowing the fee increase to support key objectives, including achieving a 20% premium reduction through the reinsurance program, providing subsidies for low-income individuals purchasing insurance on the Colorado health benefit exchange, and supporting new health insurance affordability initiatives. For the 2026 calendar year and beyond, the bill specifies a new revenue allocation structure: up to 40% for state-subsidized individual health coverage plans, up to 40% for the reinsurance program cash fund, up to 10% to reduce individual health plan costs on the exchange, up to 3.5% for administrative costs, and the remaining 6.5% can be designated for additional affordability initiatives or enterprise reserves. The bill also expands the Health Insurance Affordability Cash Fund to include gifts, grants, and donations from private or public sources, and authorizes the board to seek, accept, and expend such funding to support the enterprise's operations and sustainability. Additionally, the bill modifies definitions of "qualified individuals" and provides the commissioner with discretion in fee assessment and allocation to maintain and potentially expand health insurance coverage.