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Savings are largely attributable to Rep. McCluskie’s reinsurance legislation, premiums for plans sold on the individual market will fall by 20.2 percent statewide
DENVER, CO– Representative Julie McCluskie, D-Dillon, today released the following statement after Governor Polis announced that the final health insurance rates for plans sold on the individual market will fall by 20.2 percent and that families living in the mountains and some rural areas will save over $10,000:
“This is big news. Health insurance rates sold on the individual market will be falling dramatically, and the typical family of four living in the mountains and some rural areas of our state will see a savings of over $10,000 next year. Every Coloradan deserves access to high-quality, affordable health care services close to home, and the General Assembly worked tirelessly this past year to deliver on this basic human right. From colorado hospitals and insurance carriers, to the lawmakers who cosponsored this legislation, I am grateful for the collaborative efforts of all the partners and stakeholders who helped secure this reduction in health care costs.”
Rep. McCluskie was the prime sponsor of HB19-1168, State Innovation Waiver Reinsurance Program, which was signed by Governor Polis last May. The bipartisan legislation establishes a state reinsurance program, which has successfully lowered health care premiums for plans sold on the individual market.
Rep. McCluskie and Rep. Dylan Roberts, D-Avon, were also the co-prime sponsors of SB19-004, a bill that facilitated the establishment of the Peak Health Alliance, a health care cooperative that aims to lower costs in rural parts of the state. After starting successfully in Summit County, Peak Health is now expanding into several other counties, including Grand, Archuleta, Dolores, La Plata, Montezuma, and San Juan counties.
In the announcement today, Governor Polis said that the typical family of four living in the mountains who purchase their insurance on the individual market will see a yearly savings of $10,302, and that health care premiums for plans sold on the individual market will fall by 20.2 percent statewide.