State innovation waiver - federal funding - Colorado reinsurance program

(1) (a) For purposes of implementing and operating the reinsurance program as set forth in this part 11 for plan years starting on or after January 1, 2021, the commissioner may apply to the secretary of the United States department of health and human services for: (I) In accordance with section 1332 of the federal act, codified at 42 U.S.C. sec. 18052, and 45 CFR 155.1300: (A) One or more extensions of the initial two-year state innovation waiver received before June 30, 2020, of up to five years per extension; or (B) A new state innovation waiver of up to five years to follow the initial two-year state innovation waiver approved before June 30, 2020, and subsequent extensions of any new state innovation waiver approved by the secretary; (II) Federal funds for the reinsurance program; or (III) A new or extended state innovation waiver and federal funds. (b) An application for a state innovation waiver or for federal funds must clearly state that operation of the reinsurance program is contingent on approval of the waiver or funding request. (c) The commissioner shall ensure that a waiver application submitted pursuant to this section complies with the requirements specified in section 1332 of the federal act, codified at 42 U.S.C. sec. 18052, and 45 CFR 155.1308. (d) The commissioner shall include in a waiver application a request for a pass-through of federal funding in accordance with section 1332 (a)(3) of the federal act, 42 U.S.C. sec. 18052 (a)(3), to allow the state to obtain and use, for purposes of helping fund the reinsurance program, any federal funds that would, absent the waiver, be used to pay advance payment tax credits and cost-sharing reductions authorized under the federal act. (2) The commissioner shall notify the following in writing of any federal actions regarding the waiver or funding request: (a) The joint budget committee of the general assembly; (b) The senate committee on health and human services or any successor committee; and (c) The house of representatives committees on health and insurance and public health care and human services or any successor committees.