The Colorado Division of Insurance (DOI) has called on insurance companies to support policyholders facing financial challenges during the ongoing federal government shutdown. The request was made by Commissioner Michael Conway, who outlined several steps for carriers to help those affected.
Commissioner Conway asked insurers to provide a 30-day grace period for premium payments, refrain from charging late fees or penalties related to delayed payments, avoid canceling policies due to non-payment, and offer alternative payment arrangements so consumers can keep their coverage. He also encouraged companies to communicate clearly with affected customers about these options.
“Federal employees, through no fault of their own, are currently not receiving a paycheck. But that doesn’t mean their bills disappear. I’m urging insurance carriers to take that into account and work with federal employees on their monthly payments until the federal government shutdown comes to an end,” said Colorado Insurance Commissioner Michael Conway.
The shutdown began on October 1 after Congress did not approve a spending bill. As a result, approximately 57,000 federal workers in Colorado have either been furloughed or are working without pay.
