Gov. Polis Statement on Notice of Reinsurance Waiver for Colorado

DENVER — On Wednesday, June 5, the Division of Insurance, part of the Department of Regulatory Agencies, received notice from the Centers for Medicare and Medicaid Services that Colorado’s application for a 1332 waiver to establish a reinsurance program has undergone a preliminary review and was determined to be complete. Gov. Jared Polis applauded the decision and issued the following statement:

“This reinsurance program will save people money on health care. Coloradans in rural, suburban, and urban communities are tired of stretching their wallets to pay for health care and this bipartisan program backed by all of the Republicans and Democrats in our congressional delegation will help provide relief for families and small businesses.”

Gov. Polis signed the bipartisan HB19-1168 last month, which provided for the development of a reinsurance program. 

While, the federal government has 180-days for a full review of applications for a State Innovation Waiver under section 1332 of the Affordable Care Act (ACA), recent experience from other states’ reinsurance applications show that CMS has cut that time down to 50 to 80 days.

The letter the Colorado federal delegation sent to Treasury Sec. Mnuchin and Health and Human Services Sec. Azar on the reinsurance program can be found here. The webpage on reinsurance for the Division of Insurance can be found here.