Colorado Legislative Council Staff
REVISED NO FISCAL IMPACT
(replaces no fiscal impact dated January 25, 1999)
February 18, 1999
House Business Affairs
Will Meyer (303-866-4976)
TITLE: CONCERNING THE PAYMENT OF INSURANCE CLAIMS TO THIRD PERSONS HOLDING ASSIGNMENTS FROM INSUREDS.
Summary of Assessment
The reengrossed bill makes a technical change to the statutory provision specifying that, in cases where a health care provider receives an assignment from an insured under a motor vehicle insurance policy, the health care provider must notify the insurance company of an assignment of the insured's claim and provide a copy of the assignment. This bill changes that requirement by specifying that the provider notify the insurer that the licensed health care provider holds an assignment on file. The bill would become effective 90 days after the adjournment of the Legislature, unless a referendum petition is filed and approved by the voters.
The bill will affect the current business practices of health care providers, hospitals, and insurers. The issue currently does not generate consumer complaints or rate filings. The bill will not affect the revenues, expenditures, or workload of the Division of Insurance, Department of Regulatory Agencies. Therefore, this bill is assessed as having no fiscal impact.