Colorado waiver application for reinsurance complete, decision pending |

Colorado waiver application for reinsurance complete, decision pending

Colorado has complete applying for a federal waiver to implement a health reinsurance program, which is expected to save Coloradoans up to 20% on health premiums when implemented.
Getty Images / iStockphoto

Gov. Polis’ office announced Thursday that Colorado’s Division of Insurance, part of the state’s Department of Regulatory Agencies, received notice from the federal Centers for Medicare and Medicaid Services that Colorado’s application for a 1332 waiver to establish a reinsurance program has undergone a preliminary review and was determined to be complete. The waiver allows Colorado to use federal funds meant for implementing the Affordable Care Act to establish a reinsurance program that would serve as a pool health insurance companies draw from for the highest-cost claims. Reinsurance is expected to cut health care premiums for most Colorado residents by as much as 20% as soon as it is implemented.

Gov. Jared Polis signed the bipartisan House Bill 19-1168 reinsurance bill into law month. Combined with initiatives like Summit County’s own Peak Health Alliance, Coloradans should expect to see significant drops in their premiums as early as next year. The waiver application is expected to be fully reviewed within the next 50 to 180 days.

Support Local Journalism

Support Local Journalism

As a Summit Daily News reader, you make our work possible.

Now more than ever, your financial support is critical to help us keep our communities informed about the evolving coronavirus pandemic and the impact it is having on our residents and businesses. Every contribution, no matter the size, will make a difference.

Your donation will be used exclusively to support quality, local journalism.

For tax deductible donations, click here.

Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.

User Legend: iconModerator iconTrusted User