|The “Colorado Option” Health Care Plan|
|This is the most anticipated bill this year. |
HB21-1232 will create a “standardized health benefit plan” that will “encourage” insurance providers to offer health care coverage at progressively lower rates over the next several years. If they don’t, government will step in with a sledgehammer.
The Commissioner of Insurance will dictate a menu of services to be provided in a “base plan” to be offered by existing insurers beginning in 2023.
Given this “base plan,” insurance carriers must reduce premiums by 10% in the first year, then 20% the second year. If this doesn’t happen, the state-run Colorado Option will commence in 2025.
Doctors and hospitals will be required to accept patients on the public option.
The state will determine reimbursement rates.
What could possibly go wrong? Economics 101 tells us that price controls lead to shortages. We can anticipate fewer providers and ultimately higher prices for health care in Colorado.
If you liked ObamaCare, you’re going to LOVE the Colorado Option.
We OPPOSE this bill.
Here are ALL the bills we’re watching this week