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h_hie_2018a_2018-01-03t09:07:44z4 Hearing Summary




PUBLIC
BILL SUMMARY For HIGH-RISK HEALTH CARE COVERAGE STUDY

JOINT COMMITTEE COMMITTEE ON JOINT HEALTH AND HUMAN SERVICES
Date Jan 3, 2018      
Location RM 271



High-Risk Health Care Coverage Study - Committee Discussion Only


11:22:33 AM  

Marguerite Salazar, Executive Director, Colorado Department of Regulatory Agencies, provided a handout to the committee regarding high risk reinsurance (Attachment I).

11:24:17 AM  

Mike Conway, Interim Insurance Commissioner, Colorado Division of Insurance (DOI), presented on the DOI study of high risk reinsurance. He explained the findings of the report (The full report is available on the DOI website at https://drive.google.com/drive/folders/0B_UoCf17OVmWTUxxOUFuMzRmVGs).  He discussed the decisions the General Assembly would need to make to establish a reinsurance program.

11:27:38 AM  

Peg Brown, Deputy Director, DOI, explained that reinsurance is insurance for insurance companies against risks for unusually expensive claims.  She discussed the various types of business models used for reinsurance.

11:31:27 AM  
Commissioner Conway discussed the options for funding reinsurance pools.
11:34:32 AM  

Ms. Brown discussed the requirements for approval of a 1332 waiver and the other states that have used 1332 waivers to implement reinsurance programs.

11:38:22 AM  

Commissioner Conway discussed the federal cost sharing reductions and federal activity to address the funding loss to carriers due to the elimination of cost sharing reduction payments.  He responded to questions from the committee.

11:41:11 AM  

Ms. Brown responded to questions about other states' 1332 waivers.  Commissioner Conway responded to committee comments and questions about the funding of a reinsurance program, 1332 waivers, premium increases, and the population expected to benefit from a reinsurance program.

11:50:20 AM  

Director Salazar commented on committee questions.  Ms. Brown responded to questions about cost shifting under reinsurance programs, the history of high risk pools, and current reinsurance programs offered to insurers.






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