§ 10-19-113.6 — Producer training requirements

Colorado § 10-19-113.6

• Jurisdiction: Colorado
• Title 10: Insurance
• Art.: Long-term Care Insurance

Text

(1) (a) An individual may not
sell, solicit, or negotiate long-term care insurance unless the individual is licensed
as an insurance producer for accident and health or sickness or life insurance and
has completed a one-time training course and ongoing training every twenty-four
months. The training must meet the requirements set forth in subsection (2) of this
section.

(b) The training requirements of subsection (2) of this section may be
approved as continuing education courses under section 10-2-301.

(2) (a) The one-time training required by this section shall be no less than
sixteen hours, eight hours of which shall consist of long-term care, generally, and
eight hours of which shall be specific to long-term care partnerships in a classroom
setting. The ongoing training required by this section shall be no less than five
hours in a classroom setting.

(b) The training required under paragraph (a) of this subsection (2) shall
consist of topics related to long-term care insurance, long-term care services and,
if applicable, qualified state long-term care insurance partnership programs,
including, but not limited to:

(I) State and federal regulations and requirements and the relationship
between qualified state long-term care insurance partnership programs and other
public and private coverage of long-term care services, including medicaid;

(II) Available long-term care services and providers;

(III) Changes or improvements in long-term care services or providers;

(IV) Alternatives to the purchase of private long-term care insurance;

(V) The effect of inflation on benefits and the importance of inflation
protection; and

(VI) Consumer suitability standards and guidelines.

(c) The training required by this section shall not include training that is
insurer- or company product-specific or that includes any sales or marketing
information, materials, or training other than those required by state or federal law.

(3) (a) Each insurer subject to this article shall obtain verification that a
producer receives training required by paragraph (a) of subsection (1) of this section
before the producer is permitted to sell, solicit, or negotiate the insurer's long-term
care insurance products. The insurer shall maintain records in accordance with all
applicable record retention requirements and shall make the verification available
to the commissioner upon request.

(b) Each insurer subject to this article shall maintain records with respect to
the training of its producers concerning the distribution of its partnership policies
that will allow the division of insurance to provide assurance to the state medicaid
agency that producers have received the training contained in subparagraph (I) of
paragraph (b) of subsection (2) of this section, as required by paragraph (a) of
subsection (1) of this section, and that producers have demonstrated an
understanding of the partnership policies and their relationship to public and
private coverage of long-term care, including medicaid, in this state. These records
shall be maintained in accordance with all applicable record retention requirements
and shall be made available to the commissioner upon request.

(4) The satisfaction of these training requirements in any state shall be
deemed to satisfy the training requirements in this state.

Legislative History

Source: L. 2007: Entire section added, p. 205, � 12, effective January 1, 2008. L. 2017: (1)(a) amended, (SB 17-249), ch. 283, p. 1550, � 20, effective June 1.