SB 18-136

Senate Bill 18-136, which has been signed into law, allows health insurance producers or brokers to charge clients a fee when they help them choose an individual health plan and do not receive a commission from the selected plan. The bill requires that these fees are clearly explained in writing to the client before any charges are made. This affects individuals seeking health insurance through brokers or producers who may now be able to charge additional fees for their services. Since it has been signed, this law is now active and enforceable in Colorado.

Official Summary

The bill allows an insurance producer or broker advising a client on individual health benefit plans to charge the client a fee if the producer or broker does not receive a commission related to the individual health benefit plan selected by the client and if the producer or broker discloses in writing the fee to the client. The commissioner of insurance shall promulgate rules regarding how the producer or broker must provide the fee disclosure. (Note: This summary applies to the reengrossed version of this bill as introduced in the second house.) , Read More

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