CSAHU Broker Fee & Disclosure Update – September 2018

The Division of Insurance (DOI) has finalized the broker fee and disclosure regulations as a result of the passage of SB18-136 – Concerning Health Insurance Producer Fee and Fee Disclosure.  Brokers and agents are now allowed to charge fees as outlined in the DOI regulations.  The DOI regulations were adopted by the Commissioner through the emergency regulation process due to the timing of the August effective date of the Act, meaning the Commissioner adopted the regulations without the standard public rulemaking process.  CSAHU leadership was engaged and worked with the Division and the Commissioner to address issues in the initial emergency draft rules. 

Below are links to the final DOI Regulations, in effect now.  Please be sure to read closely and follow if you plan to charge fees. 

FINAL DOI REGULATIONS

Fees charged by Producers:

18-E-02 FEES CHARGED BY PRODUCERS

Standard Compensation Disclosure for Health Insurance Producers:

18-E-03 STANDARD COMPENSATION DISCLOSURES FOR HEALTH INSURANCE PRODUCERS

*Please see this letter that CSAHU leadership sent to the DOI in May 2018 voicing concerns on the initial emergency draft rules.  These concerns were addressed by the DOI in the final adopted regulations.