Colorado Revised Statutes Title 10. Insurance § 10-16-1107. Funding for reinsurance program--sources--permitted uses--reinsurance program cash fund--calculation of total funding for program

(1)(a) There is hereby created in the state treasury the reinsurance program cash fund referred to in this section as the “fund”, which consists of:

(b) All money deposited or paid into or transferred, allocated, or appropriated to the reinsurance program cash fund, including interest or income earned on the investment of money in the fund, is continuously available and appropriated to the division to be expended in accordance with this part 11. Any interest or income earned on the investment of money in the fund shall be credited to the fund.

(c) The reinsurance program cash fund is part of the Colorado health insurance affordability enterprise established pursuant to part 12 of this article 16.

(a) Reinsurance payments under the reinsurance program; and

(b) Administrative and operating expenses of the reinsurance program, the commissioner, and the division under this part 11.

(4)(a) If, after June 30, 2020, the United States congress enacts and the president signs federal legislation establishing or the secretary of the United States department of health and human services implements a federal reinsurance program that provides federal funding for the reinsurance program or otherwise makes additional federal funds available for the reinsurance program in excess of the amount received as federal pass-through funding pursuant to subsection (1)(a)(I) of this section, the commissioner shall notify the health insurance affordability board created in section 10-16-1207 of the amount of federal funding in excess of the federal pass-through funding that will be available for the reinsurance program and the date the funding is expected to be received.

(b) If the reinsurance program receives federal funding as described in this subsection (4) to make reinsurance payments to carriers in a given year after the health insurance affordability enterprise has allocated money to the reinsurance program pursuant to section 10-16-1205(2) for that year, the commissioner shall return to the enterprise the allocation or a portion of the allocation, as determined by the enterprise, based on the amount of federal funding received for that year.