Source: Kaiser Health News
Critics declared Colorado’s new quasi-public option a failure this fall, before it was even available for purchase on the state’s Affordable Care Act health insurance marketplace. They seized on an October announcement from the state that premiums for individual coverage were rising by an average of 10% in 2023 despite the arrival of the much-anticipated Colorado Option, which was meant to drive down costs. What’s more, people in most counties had access to traditional plans that were cheaper than the new option.
Supporters warned against calling the Colorado Option a bust just yet. With open enrollment underway, consumers on the ACA marketplace can choose Colorado Option plans for the first time since the 2021 law that created them took effect. State officials are betting that people will look beyond the cost of the premiums.