CO | Colorado has issued an Emergency Regulation to:
- Provide reasonable standardization of coverage and simplification of terms and benefits of Medicare supplement policies;
- Facilitate public understanding and comparison of such policies;
- Eliminate provisions contained in such policies which may be misleading or confusing in connection with the purchase of such policies or with the settlement of claims;
- Provide for full disclosure in the sale of accident and sickness insurance coverage to persons eligible for Medicare;
- Comply with the mandate of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) which prohibit the sale of Medicare supplement benefit policies that cover Medicare Part B deductibles to “newly eligible” Medicare beneficiaries defined as those individuals who become eligible for Medicare due to age, disability or end-stage renal disease, on or after January 1, 2020.