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Code of Colorado Regulations eDocket
Details of Tracking Number
2023-00422
CCR details
| Tracking Number |
2023-00422 |
| Type of Filing |
Emergency |
| Department |
700 Department of Regulatory Agencies |
| Agency |
702 Division of Insurance |
| CCR Number |
3 CCR 702-4 Series 4-2 |
| CCR Title |
LIFE, ACCIDENT AND HEALTH, Series 4-2 Accident and Health (General) |
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Proposed rule
| Rule |
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| Additional Information |
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| Statutory Authority |
§§ 10-1-109, 10-16-108.5, and 10-16-109, C.R.S. |
| Purpose/Objective of Rule |
The purpose of this emergency regulation is to require carriers to maintain current insurance producer commission schedules when enrolling individuals in new health benefit plans during a special enrollment period (“SEP”).
The Division of Insurance finds, pursuant to § 24-4-103(6)(a), C.R.S., that immediate adoption of this emergency regulation is imperatively necessary to preserve public health, safety, or welfare and compliance with the requirements of § 24-4-103, C.R.S., would be contrary to the public interest. On June 21, 2023, the Denver District Court found Friday Health Plans was in a hazardous financial condition and ordered the company to be placed into rehabilitation for the protection of policyholders. As of June 1, 2023, Friday Health Plans ceased offering new policies in Colorado, and Friday Health Plans’ parent company and management services company terminated all employees and ceased operations as of July 6, 2023. On July 17, 2023, given the company’s deteriorating financial situation and a growing number of health care providers refusing to see Coloradans insured by Friday in spite of the Division’s continued assurances that providers would be paid for the services provided, the Division sought an order to liquidate the company and to discontinue its operations. Coloradans enrolled in Friday Health Plans will be provided an opportunity through a special enrollment period to purchase new coverage. Producers will play an important role in helping these individuals find new coverage and should be adequately compensated for performing these services. |
| Submitted in response to issues raised by COLS/OLLS? |
No
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| Is this rule adopted in response to recent legislation? |
No
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| Contact Name |
Jill Mullen |
| Contact Title |
Policy Advisor |
| Contact Telephone |
720-5564952 |
| Contact email |
jill.mullen@state.co.us |
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Adopted rule
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