['Employee Benefits']
['Health Plans']
07/16/2024
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Summary of differences between federal and state regulations
The U.S. Department of Health and Human Services (HHS) must make a determination on or before January 1, 2013, that a state will in fact have an exchange in operation by 2014 and that the exchange meets the requirements of the Affordable Care Act (ACA) and HHS guidance. In a letter dated November 15, 2012, Secretary Sebelius indicated that a state may submit both a letter of intent and an application to operate its own exchange by December 14, 2012. If a state elects not to operate an exchange, or if the HHS determines that the state will not be able to have an exchange operational by 2014 that meets the law’s requirements, the ACA gives the HHS the authority to establish and operate such exchange within the state.
On June 1, 2011 Colorado Governor John Hickenlooper signed SB 11-200 into law, establishing the Colorado Health Benefit Exchange.
In 2010 the Colorado State Office of the Governor received a federal Exchange Planning grant of $1 million. In February 2012, the state received a Level One Establishment Grant for $17.9 million for planning and design of the exchange.
Colorado’s Exchange is non-profit unincorporated public entity, governed by a 12-member board of directors.
The exchange is creating a website where individuals and small employers can compare and purchase plans which offer adequate levels of coverage and comply with the new regulations. The website will interface with government databases to determine an individual’s eligibility for tax credits and public insurance.
State
Contacts
Colorado Health Benefit Exchange
Colorado Division of Insurance
Regulations
Colorado Statute:
Title 10 Article 22
Laws:
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