C.R.S. § 25.5-5-427: Managed care entities - disclosure of payment and medical loss ratio - definition.

(1) The state department shall include in each new contract with, or renewal of a contract with, an MCE a provision requiring the MCE to submit to the state department, on an annual basis, the amount the MCE is paid for delivering services and the MCE's medical loss ratio.

(2) The state department shall annually publish the following information on its website:

(a) The information received pursuant to subsection (1) of this section;

(b) Historical medical loss ratio data for each MCE; and

(c) Audit findings regarding an MCE's most recently completed medical loss ratio audit.

(3) For purposes of subsection (1) of this section, "medical loss ratio" means the percentage of premium revenue that the MCE spends on health-care services and quality improvement activities.