Polis Praises Questionable Victory as Health Insurance Rates Increase
The Polis administration has been facing heavy criticism after the announcement of a family budget denting 10% increase in health insurance rates for Coloradans who buy coverage on their own.
While slightly lower than what insurers had initially requested, this significant rise in premiums will undoubtedly have a negative impact on the wallets of hardworking Coloradans. But instead of addressing this issue and finding solutions, the Polis administration seems to be more focused on spinning the numbers in their favor.
Saskia Young, the executive director of the Colorado Association of Health Plans, reiterated concerns that Colorado Option requirements are unsustainable. “The Colorado Option program requires additional coverages at lower prices which is not how insurance nor any other industry works.”
In a statement released by Colorado Insurance Commissioner Michael Conway, he praised the administration for "working to limit rising costs and save people money on health care."
This statement doesn’t tell the full story, as the reality is that the state's insurance division has failed to successfully negotiate with insurers to keep prices from skyrocketing. Additionally, only a fraction of individuals and small businesses in the state will even benefit from this marginal decrease in rates. But the Polis administration would have you believe that this is a significant victory for the people of Colorado.
However, not everyone is buying into this false narrative. Saskia Young, the executive director of the Colorado Association of Health Plans, has been critical of the administration's handling of the situation. She pointed out that the decrease in rates is largely due to the Division of Insurance's costly coverage requirements.
These numbers are far better than what it appeared they would be when insurers earlier this year filed their rate requests and raised questions about the sustainability of the Colorado Option, which aims to offer better coverage at less-expensive prices. The program is one of Gov. Jared Polis’ signature health care policies.
“I am thrilled to announce that Coloradans will save $411 million on health insurance premiums next year as a result of the bipartisan reinsurance program,” Governor Jared Polis said in a statement. “I am committed to looking at every solution to save people money on health care to ensure that Coloradans can access quality care when they need it most.”
It's clear that the Polis administration is more concerned with pushing their agenda and appeasing special interest groups than finding actual solutions to the rising costs of health insurance.
Despite claims of lower premiums, it's important to note that this rate increase only applies to one segment of the population - those who purchase insurance in the individual market. This group makes up a mere 7% of Coloradans, yet the Polis administration continues to prioritize them over the majority of the population who receive insurance through their employers. And even within this small group, the majority will still see a significant increase in premiums.
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The Polis administration also announced that the state will be offering additional subsidies to those with lower incomes, conveniently glossing over the fact that these subsidies are a result of the federal government providing the state with millions of dollars. It's a Band-Aid solution to a much larger issue and serves as nothing more than a political stunt by Governor Polis.
The administration's favorite talking point has been reinsurance, a program that supposedly helps lower premiums for everyone by assisting insurers in paying their most expensive claims.
The reality is this program only benefits a small percentage of the population and does not address the root causes of rising health care costs. If the Polis administration truly wanted to make a difference, they would focus on implementing long-term solutions, not temporary fixes.