DENVER, CO – The House Health and Insurance Committee today passed legislation sponsored by Representatives Iman Jodeh and Emily Sirota to save Coloradans money on health care and prescription drugs. The vote was 8-2.
“Everyone should have access to high quality health care and prescription drugs that they can afford,” said Rep. Iman Jodeh, D-Aurora. “This legislation will save Coloradans money on health care and prescription medications, and make health insurance more dependable for patients. It will cut red tape to ensure patients get the treatments their doctors recommend and prevent health insurance companies from ripping away coverage for critical treatments.”
“Prescription drug rebates can lower the cost of medications, but only if insurance companies don’t keep the savings for themselves,” said Rep. Emily Sirota, D-Denver. “The bill we passed today will lower the cost of prescription drugs and ensure that consumers, not big corporations, get the savings from manufacturer rebates. Importantly, this legislation requires transparency so patients can know exactly what they’ll have to pay in copays before they get care.”
HB22-1370 makes prescription drugs and health care more affordable and dependable. The bill ensures doctors are in charge of a patient’s treatment instead of insurance companies by limiting when a patient has to try and fail a treatment that their insurance company prefers before they can get what their doctor recommends. The bill ensures that patients know what they’ll be expected to pay for services by requiring that 25 percent of health plans have a set dollar amount for co-pays instead of unpredictable percentage-based coinsurance.
The bill will save Coloradans money on prescription drugs by requiring insurance companies to pass along the savings from manufacturers’ rebates. The bill also bans health insurance companies from raising the out-of-pocket costs of someone’s prescription medications in the middle of their coverage and prohibits companies from dropping coverage of a medication a patient needs midway through the patients’ coverage.