DENVER — Colorado’s Health Care Future issued the following statement today after the House Appropriations Committee approved House Bill (HB) 23-1209, which would explore eliminating Colorado’s current health care system—including the health insurance most Coloradans get through their employers—and creating a one-size-fits-all state government-controlled health insurance system, or “single-payer” system, like Medicare for All.

“Eliminating Colorado’s current health care system in favor of creating a one-size-fits-all government health insurance system would be devastating for Coloradans. Government-controlled health insurance systems result in consumers and patients paying more to wait longer for worse care, while putting politicians in control of health care.

“Moreover, Colorado is already undergoing a test drive of single-payer lite, through the ‘Colorado Option,’ which promised lower costs and more choices but couldn’t fulfill those promises. New research makes clear that the Colorado Option is failing to deliver greater affordability and is contributing to health insurance companies being forced out of our state limiting Coloradans coverage options.

“85% of Colorado Option plans offered in the individual market were unable to meet the 5% premium reduction target in the law’s first year. Recent health insurance company filings confirm that more aggressive premium reduction targets are unlikely to be met in future years. Nearly every county in Colorado continues to suffer from provider shortages, and nearly nine in 10 Coloradans who shopped for individual coverage rejected the state government-controlled Colorado Option.

“The results of this state government-controlled health insurance system in Colorado are already in, and nearly 90% of Coloradans have rejected it. So should the Colorado House of Representatives.”

A new analysis released this week by NovaRest, an independent actuarial consulting firm with extensive experience supporting state and federal insurance regulators, highlighted how the Colorado Option has fallen short on the promise to save Coloradans money on their health care. The actuarial analysis demonstrates how this state government-controlled health insurance system is increasing costs, reducing competition in the state’s health insurance market, and driving health care provider shortages.

Read NovaRest’s actuarial analysis on the Colorado Public Option here.

Read more about Colorado’s Health Care Future here.