What must a health insurer disclose before issuing a new policy in Colorado?

In Colorado, before issuing a new health insurance policy, insurers are required to disclose the policy terms, benefits, and any exclusions or limitations. This requirement is vital for ensuring that applicants fully understand the coverage they are purchasing, including what is and isn't covered under the policy. By providing clear information about the benefits and any potential exclusions, consumers are better equipped to make informed decisions about their health insurance options.

This approach promotes transparency and helps to prevent misunderstandings that could lead to dissatisfaction with the policy after it has been purchased. Understanding the specific terms and conditions of a policy is crucial because it allows applicants to compare different options effectively and choose the insurance that best meets their needs.

The emphasis on clear communication of benefits and exclusions is a key consumer protection measure in health insurance regulation, promoting fair dealings and informed choices in the marketplace.