A Public Option for Colorado
This week, Colorado Senator Kerry Donovan introduced the Colorado Health Insurance Option Plan, which would add a public option to Colorado’s health insurance exchange. The goal is to lower premiums, not just on the exchange, but for all health insurance customers in Colorado. The legislation gives industry until the end of 2024 to reach a desired 20 percent reduction in premiums, and only implements the Colorado Option in 2025 if that goal is not met. “This isn’t about imposing government mandates on the industry or forcing anyone to give up health care that they already have and like,” said Donovan, stressing the need to bring everyone to the table to solve high health care costs. The public option plans would be targeted to those who buy health insurance either on the individual or small group markets. Read more about the proposal here.