Colorado § 24-50-618 - Group benefit plans - institutions of higher education.

§ 24-50-618. Group benefit plans - institutions of higher education.

(1) A state institution of higher education, which, for the purposes of this section, shall include the Auraria higher education center established in article 70 of title 23, C.R.S., or a group of state institutions may establish and offer one or more group benefit plans, in addition to or in lieu of a plan contracted for by the director pursuant to this part 6, to employees of the institution or institutions who are in the state personnel system.

(2) (a) Notwithstanding any provision of subsection (1) of this section to the contrary, a state institution of higher education or group of institutions shall consult with the governor's office and provide to the director at least twelve months' written advance notice before the institution or group of institutions may:

(I) Cease offering to institutional employees in the personnel system one or more group benefit plans that the director contracted for and that the institution or group of institutions offered in the preceding plan year; or

(II) Offer to institutional employees in the personnel system one or more group benefit plans that were contracted for by the director and that the institution or group of institutions did not offer in the preceding plan year.

(b) If the director concludes on the basis of actuarial data that ceasing to offer one or more group benefit plans as described in subparagraph (I) of paragraph (a) of this subsection (2) is likely, in the first year in which it is not offered, to result in an increase in costs for that plan or any other plan contracted for by the director, the institution or group of institutions may not cease to offer the plan or plans unless specifically authorized to do so by the governor. The director shall provide the conclusion, in writing and with copies of the actuarial data upon which it is based, to the governor's office and the affected institution or group of institutions no later than one hundred eighty days after the date on which the institution or group of institutions provides the notice required in paragraph (a) of this subsection (2).

(3) It is the intent of the general assembly that the director will provide for employees of the state institutions of higher education and for all other state employees the most cost-competitive group benefit plans available.

Source: L. 2010: Entire section added, (HB 10-1427), ch. 408, p. 2020, § 4, effective June 10. L. 2011: Entire section amended, (HB 11-1301), ch. 297, p. 1427, § 22, effective August 10. L. 2012: (1) amended, (HB 12-1081), ch. 210, p. 906, § 12, effective August 8.