For Immediate Release
DATE: April 12, 2023
CONTACT: Katie Reinisch,katie@progressive-promotions.com, 303-653-1009
Adam Fox, afox@cohealthinitiative.org, 303-563-9108
Health Care Advocates Praise Colorado Option Clean-Up Bill
Legislation Clears Committee, Heads to Senate Floor
DENVER – This afternoon, House Bill 1224, a bill to improve the Colorado Option for health care insurance, passed the Senate House and Human Services Committee with a vote of 5-to-3 and is headed to the Senate floor.
HB-1224 seeks to make the Colorado Option legislation passed in 2021 more consumer-friendly by making it easier for Coloradans to shop around and compare insurance plans and by streamlining the upcoming public hearing process for consumers and for insurers who do not meet the required rate reductions.
In its introductory year, Colorado Option plan enrollment exceeded expectations, surpassing 13 percent of the individual market share, despite insurance carriers offering other cheaper but low-quality and lower-value plans to try to lure consumers away from Colorado Option plans. With a successful enrollment last fall, consumers are telling insurers they are tired of high premiums and low-value plans.
“This legislation will make the high-value Colorado Option plans easier for consumers to find and compare,” said Adam Fox, deputy director of the Colorado Consumer Health Initiative. “Many Coloradans purchase their insurance based on affordability while also considering the value of benefits. With this legislation, consumers can have more control of their financial and medical decisions while insurance corporations can be held accountable for choosing profits over patients”
Coloradans will be able to participate in the new public hearing process for the Colorado Option starting in June. HB23-1224 will be heard on the Senate Floor next.
###
Colorado Consumer Health Initiative (CCHI) is a nonpartisan, nonprofit, membership-based group advocating for equitable access to high-quality, affordable health care. CCHI serves Coloradans whose access to health care and financial security are compromised by structural barriers, affordability, poor benefits, or unfair business practices of the health care industry.