Colorado Becomes Third State To Launch Its Own Public Insurance Option

On June 16, 2021, Colorado Governor Jared Polis signed Colorado House Bill (HB) 21-1232 Of 2021 to implement a state-run public health insurance option. Colorado joins Washington and Nevada in taking this approach. The “Colorado Option” will be developed by the state, insurers, and health care provider organizations by January 1, 2022. By 2025, the legislation calls for the public option premiums to be a target of 15% lower than the 2021 Health Insurance Marketplace benchmark premium. The key features of the new law are:

Development of a Standardized Benefit Plan (to be developed by the Colorado Division . . .