JOINT RELEASE: Lawmakers, Consumers, and Small Biz Unveil Colorado Health Insurance Option
DENVER, CO – Representative Dylan Roberts, Representative Iman Jodeh, and Senator Kerry Donovan today joined Colorado health care consumers, an ER physician, and small business owners to unveil legislation to lower health insurance costs and if needed, create Colorado’s Health Insurance Option and save people money on health care.
“Now is the time for bold, necessary reforms--we’re going to lower the cost of healthcare for Coloradans and increase options for consumers in every county in our state,” said Rep. Dylan Roberts, D-Avon. “Our bill welcomes and encourages collaboration from hospitals, health insurance companies, and prescription drug manufacturers to save Coloradans money on their health care but if the industry cannot or will not achieve a reasonable goal of lower insurance premiums, the Colorado Health Insurance Option would start in 2025 and give consumers a new, more affordable choice on the individual and small group markets.”
“We refuse to accept that there is nothing that can be done to change the status quo. As legislators, it's our job to come to the table and find solutions even when it seems impossible,” said Sen. Kerry Donovan, D-Vail. “Year after year, I hear devastating stories from my constituents whose lives have been forever altered because they and their families couldn’t afford the care that they so desperately needed, or paying for the care that saved their lives bankrupted them. The Colorado Health Insurance Option is a targeted and thoughtful approach, and it’s our best chance in years to increase access and lower the cost of health care across the state - for everyone.”
“The pandemic has only exacerbated health disparities that have long been prevalent in communities of color,” said Rep. Iman Jodeh, D-Aurora. “People of color have disproportionately higher medical debt, face higher uninsured rates, and are forced more often to go to the ER for expensive care because they can’t afford the cost of health insurance. We’re going to change that. This bill will offer Coloradans a health care plan they can rely on, especially for people of color who are struggling to find quality access to affordable care.”
"Affordable and accessible health insurance furthers health and wellbeing and increases economic security for Coloradans, their families, and their businesses. By offering insurance carriers the opportunity to negotiate to meet premium reduction targets, the Colorado Health Insurance Option allows for private sector innovation, and holds the unique potential to add competition to the market to deliver meaningful results for Coloradans,” said Lieutenant Governor Dianne Primavera who leads the Office of Saving People Money on Health Care. “The Colorado Health Insurance Option is a balanced approach to bring more affordable health insurance options to Coloradans and small businesses."
Before the pandemic, 20 percent of Coloradans struggled to afford the cost of health care or went without care because they couldn't afford it. One in six Colorado counties has only one health insurance carrier on the individual market. The COVID-19 pandemic exposed gaps in the state’s health system and exacerbated existing inequities that have only made it harder for Coloradans to access affordable care.
The legislation unveiled today will bring more affordable health insurance options to Coloradans in the individual and small group market. This proposal provides the health care industry an opportunity to work collaboratively to reduce their premiums by a certain percentage each year, but allows them to innovate and figure out how to do that with minimal government intervention. If the healthcare industry doesn’t find a way to reach premium reduction targets, the State of Colorado would then step in and offer the Colorado Health Insurance Option that is more affordable than the plans currently being offered by private health insurance companies. The Colorado Health Insurance Option would be available to consumers in every county. The Colorado Option would be a standardized and affordable plan that keeps out-of-pocket costs low and drives competition across the market.
