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The recently proposed Colorado Health Insurance Option (HB21-1232) poses a real threat to our economy and our job creators. For consumers, the proposed state government-run health insurance system comes down to less choice, longer waits and higher costs.
According to a new study from Common Sense Institute, the proposed public option would impose price mandates for health care services in Colorado, without actually lowering the cost of delivering those services. As a result, payments to doctors, nurses, hospitals and other health-care providers for treating patients could be cut by as much as $1 billion by 2024. Thatâs $1 billion â with a âbâ â in a system that has been pushed to the brink fighting the COVID pandemic.
After several tries, the bill to set up the Colorado Option Health Benefit Plan got its first hearing Friday in the House Health & Insurance Committee in a 10-hour hearing that drew more than 100 witnesses.
But negotiations that went on all day Friday between sponsors and the healthcare industry means action on the bill including amendments will be delayed until next Tuesday.
As introduced, House Bill 1232 gives the healthcare industry doctors, hospitals and health insurers two years to reduce health insurance premiums by 20% (10% per year) in the individual and small group market. The individual market is about 8% of insured Coloradans; the small group market, which is small businesses with 1 to 100 employees, is about 15% of insured Coloradans.
A report from the Common Sense Institute, a nonpartisan group that advocates for a free market, shows potential roadblocks on Colorado’s path to economic recovery.
Colorado Legislature 2021 preview | As lawmakers return to Denver, recovery is king gazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gazette.com Daily Mail and Mail on Sunday newspapers.