In A First, Colorado Will Sell Its Own Health Plan On ACA Exchanges
The Biden administration gave the go-ahead Thursday, allowing the state to offer the Colorado Option to residents who enroll in health plans on the individual market and also to small employers with fewer than 100 employees. The plan is expected to lower premiums by an average of 22%.
Axios:
Colorado To Offer State Health Plans
Colorado is reviving an old progressive health care goal with a new twist, creating a public health insurance option that could be a model for other states trying to expand affordable coverage as they move past the pandemic. Using flexibilities the Biden administration granted on Thursday, the state is trying to prove a government-run health plan can attract more consumers and save money while avoiding the political pitfalls associated with single-payer systems. (Dreher, 6/24)
Fierce Healthcare:
CMS Approves First-Ever Public Option Plan For Colorado's ACA Exchange
The plan will be sold on the ACA’s exchanges and is expected to lower premiums by an average of 22%, or approximately $132 per person a month. Colorado’s plan must cover all essential health benefits required by the ACA and establish premium reduction targets. Any county that has an ACA insurer offering a plan on the individual or small group market must also offer the Colorado Option plan. (King, 6/23)
Modern Healthcare:
Colorado Gets OK To Amend Federal Waiver, Will Launch Public Option
The Colorado Option will be available to residents who enroll in health plans on the individual market and small employers with fewer than 100 employees. Insurers must offer Colorado Option plans in every county they operate and meet premium reduction targets by 2025. If carriers fail to cut premium costs during that time frame, the state's insurance commissioner can order healthcare providers to join Colorado Option plans at set rates, following a public hearing. (Goldman and Tepper, 6/23)
Colorado Sun:
Federal Government Approves Colorado Option Health Insurance Plan
The federal waiver approval also extended another of Polis’ signature health care initiatives — a reinsurance program that helps insurance companies pay their highest-cost claims, thus allowing them to reduce premium prices for everyone. The Polis administration estimates reinsurance reduces insurance prices for people in the individual market by 20% a year. Polis has made his efforts to save Coloradans money into the centerpiece of his reelection campaign, and he capitalized on Thursday’s announcement to promote that work. (Ingold, 6/23)
