State RegulationsCO specificDifficulty 2/5
Under C.R.S. § 10-16-105.1, guaranteed renewability of a Colorado individual health policy means the insurer:
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
C.R.S. § 10-16-105.1 governs guaranteed renewability of Colorado individual health coverage: the insurer must keep the policy renewable as long as required premiums are paid and may not refuse renewal because of the insured's health status or claims experience. Renewal is guaranteed as a matter of law; the statute protects continuation of coverage, not a frozen premium.
Why the other options are wrong
- A) Re-underwriting an individual policy at renewal based on health is contrary to guaranteed renewability.
- C) Guaranteed renewability prevents arbitrary cancellation at renewal; the insurer cannot simply non-renew for health reasons.
- D) The statute guarantees renewal, not a frozen premium; premium changes are not prohibited by guaranteed renewability.
Memory hook
Guaranteed renewable = renew if you pay, regardless of health.