Feds Approve ‘Colorado Option’ Standardized Plan For Individuals & Small Employers

On June 23, 2022, the Centers for Medicare & Medicaid Services (CMS) approved Colorado’s Section 1332 State Innovation Waiver amendment request to create a standardized benefit plan called the “Colorado Option.” The Colorado Option is intended for state residents who enroll in health insurance plans on the individual market and for small employers with less than 100 employees. Enrollees that are newly eligible for enrollment due to the waiver are expected to be those who are currently ineligible for subsidies on Health Insurance Marketplace, including people ineligible due to their immigration status or documentation status. The new plan will . . .