Commissioner powers and duties - rules - study and report

(a) Enter into contracts as necessary or proper to carry out the provisions and purposes of this part 11, including contracts for the administration of the reinsurance program and with appropriate administrative staff, consultants, and legal counsel;

(c) Establish administrative and accounting procedures for the operation of the reinsurance program;

(d) Establish procedures and standards for carriers to submit claims under the reinsurance program;

(e) Establish or adjust the payment parameters in accordance with section 10-16-1105 (2) for each benefit year;

(f) Repealed.

(g) In accordance with section 10-16-1109, apply for a state innovation waiver or an extension of a state innovation waiver; apply for federal funds; or apply for both a waiver or extension of a waiver and federal funds for the implementation and operation of the reinsurance program;

(h) Apply for, accept, administer, and expend gifts, grants, and donations and any federal or state funds that may become available for the reinsurance program; and

(i) Adopt rules as necessary to implement, administer, and enforce this part 11, including rules necessary to align state law with any federal program and rules. The rules shall be adopted in accordance with the State Administrative Procedure Act, article 4 of title 24, including the requirement to establish a representative group of participants pursuant to section 24-4-103 (2).

(2) (a) If the reinsurance program is approved pursuant to section 10-16-1109, the commissioner, during implementation of the program, shall evaluate the effect of the program on access to affordable, high-value health insurance for consumers who are eligible for premium tax credit subsidies and cost-sharing reductions and minimize any potential negative effects on those consumers.

(b) After the second full year of operation of the program, the commissioner shall complete a study that evaluates:

(I) The effects of the program on access to affordable, high-value health insurance for consumers who are eligible for premium tax credit subsidies and cost-sharing reductions; and

(II) Health plan affordability, including cost sharing and premiums.

(c) The commissioner shall issue a report on the study within one hundred twenty days after the end of the second full year of operation of the program, post the report on the division's website, and submit the report to the governor, the senate committee on health and human services or its successor committee, and the house of representatives health and insurance committee or its successor committee.