Colorado lawmakers bring back bill to help insurance companies cover high-cost health claims
By creating a reinsurance program, legislators hope to lower premiums on the individual market
Jessica Seaman / The Denver Post
In an effort to drive down insurance premiums in the state, Colorado lawmakers will once again consider creating a program to help insurers cover their sickest — and therefore most expensive — patients.
Legislators introduced a bill Friday in the House to create a reinsurance program.
The legislation, if passed, would create a state fund to help insurance companies cover high-cost claims. By controlling costs for insurers, lawmakers hope to lower premiums for everyone buying health insurance on the individual market by as much as 35 percent.
“I know of families in my community who are priced out of the individual insurance market place,” said Rep. Julie McCluskie, a Democrat sponsoring the bill. “The premiums are so high that they are scrambling to try to find other alternatives to make sure they have the coverage they need for good health.”
The bill will be able to be repealed after five years — a provision added because lawmakers view reinsurance as a method to lower premiums while they tackle the “deeper needs in our health care system,” she said.
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