Modernize Health Benefit Exchange Governance

The act modifies provisions governing the Colorado health benefit exchange (exchange) by: Eliminating the requirement for the board of directors of the exchange (board) to submit a report on the development of the exchange to the governor and the general assembly by January 15 and instead requiring the report to be submitted annually and to address open enrollment; Requiring the board to also present an open enrollment update to specified legislative committees during each legislative session; Requiring the exchange, rather than the board, to annually present to the Colorado health insurance exchange oversight committee (committee) the exchange's financial and operational plans and the major actions taken by the board; and Modifying the number of meetings of the committee during the interim. APPROVED by Governor April 4, 2024 EFFECTIVE August 7, 2024(Note: This summary applies to this bill as enacted.)