How will Colorado’s public health insurance option work? |

How will Colorado’s public health insurance option work?

Last session, Colorado lawmakers directed state agencies to create a plan for a new “state option” for health insurance, but much still needs to happen before you could buy in.

report released in November estimated people who buy their insurance on the individual market could save as much as 11% if the new plan moves forward, but the actual savings could vary dramatically, depending on decisions yet to be made in the statehouse.

Private insurers would sell the plans, but they’d be overseen by the Colorado Division of Insurance and the Department of Health Care Policy and Financing, which worked together to craft the proposal in the report.

The regulators are expecting most of the savings to come from paying less to hospitals, which will come out in force against plans that cut into their revenue. And the agencies still must do much of the hardest part — crafting a formula to decide how much the hospitals will get. Lawmakers are working with hospitals throughout the state to make those determinations.

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