NCPA submitted comments this week in strong support of Colorado HB 12-1227 during its House Health and Insurance Committee hearing. The bill revised existing PBM laws to include authority for the Office of the Insurance Commissioner to issue fines and other penalties for violations of law. It creates a Division of Insurance Cash Fund to receive the fines, which would fund the administration and enforcement of the law. The committee passed an amended version of the bill by a 9-1 vote, sending the revised legislation to the Committee on Appropriations.
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