SB17-249

SB17-249 - Sunset Division Of Insurance

Passed/Signed into Law
Concerning the continuation of the division of insurance, and, in connection therewith, implementing the recommendations contained in the 2016 sunset report by the department of regulatory agencies.

Sunset Process - Senate Business, Labor, and Technology Committee. The bill implements the recommendations of the department of regulatory agencies' sunset review and report on the functions of the division of insurance (division) by:

 

  • Continuing the functions of the division for 13 years, until 2030 ( sections 1 and 2 of the bill);
  • Establishing a separate sunset date for the regulation of preneed funeral contracts in 2022 ( section 5 );
  • Reassigning certain duties related to health maintenance organizations from the executive director of the department of public health and environment to the commissioner of insurance (commissioner) ( sections 6 through 13 );
  • Repealing the 'Certified Capital Company Act', effective July 1, 2025 ( section 14 );
  • Removing the exemption of policies with more than 4 automobiles from consumer protection provisions ( section 15 );
  • Eliminating the requirement that an insurer authorized to transact business in Colorado file a schedule of insurance rates for required minimum coverages by July 1, 2003 ( section 16 );
  • Expanding the definition of 'enrollee' to include certain individuals with non-HMO or prepaid plans ( section 17 );
  • Revising the definition of 'participating provider' to include providers in other states that are part of the carrier's managed care network since consumers may use contracted providers in other states when Colorado insurance protections are applicable ( section 17 );
  • Repealing the 35% surcharge above the modified community rate that an insurance carrier is permitted to impose on small employers that previously purchased self-funded health benefit coverage or a health benefit plan that was not a small group plan ( section 18 );
  • Repealing the requirement for a one-time training course that was to be completed by January 1, 2009 ( section 19 );
  • Changing a reference to the location of the definition of health care providers from the statutes governing reimbursement to providers of health care services to refer to statutes governing the statewide managed care system ( section 20 ); and
  • Clarifying that all bail agents licensed by the division are exempt from the private investigator licensing statute ( section 21 ).

Section 3 of the bill requires fines and penalties levied on insurers to relate to the general business practices and compliance activities of insurers.

Section 4 of the bill requires the division to study the compliance of preneed funeral contract sellers with Colorado law and report the findings of the study to the legislature not later than September 1, 2017.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)

 

Latest update: June 1, 2017
06/01/2017 - Governor Signed
05/19/2017 - Sent to the Governor
05/19/2017 - Signed by the Speaker of the House
05/18/2017 - Signed by the President of the Senate
05/10/2017 - Senate Considered House Amendments - Result was to Concur - Repass
05/10/2017 - Senate Consideration of First Conference Committee Report result was to Recede - CCR not produced
05/10/2017 - First Conference Committee Result was to No Report
05/09/2017 - Senate Considered House Amendments - Result was to Not Concur - Request Conference Committee
05/08/2017 - House Third Reading Passed - No Amendments
05/05/2017 - House Second Reading Special Order - Passed with Amendments - Committee
05/05/2017 - House Committee on Appropriations Refer Unamended to House Committee of the Whole
05/04/2017 - House Committee on Finance Refer Unamended to Appropriations
04/27/2017 - House Committee on Health, Insurance, & Environment Refer Amended to Finance
04/12/2017 - Introduced In House - Assigned to Health, Insurance, & Environment
04/10/2017 - Senate Third Reading Passed - No Amendments
04/07/2017 - Senate Second Reading Special Order - Passed with Amendments - Committee
04/05/2017 - Senate Committee on Business, Labor, & Technology Refer Amended - Consent Calendar to Senate Committee of the Whole
03/16/2017 - Introduced In Senate - Assigned to Business, Labor, & Technology