Denver, Colorado – June 6, 2023 – Despite the significant premium implications for Colorado consumers, Governor Polis signed Calculation Of Contributions To Meet Cost Sharing (SB23-195) into law this week. The Colorado Association of Health Plans estimates a $96 million dollar annual impact to Coloradans in the fully insured market from this bill alone. These additional costs to Coloradans will go directly into the pockets of Big PhRMA. In fact, the drug manufacturers funded the study touted by proponents of the bill for a reason-because it will enhance the drug companies’ bottom lines.
CAHP had requested a veto from the Governor because the bill directly contradicts his goal of saving people money on healthcare and will no doubt further prevent insurance providers from meeting the target reductions set by his administration for the Colorado Option. CAHP Executive Director, Saskia Young, responded to the signing of the bill by stating:
“In the 2023 session alone, the Governor has signed five bills that will directly increase the cost of health insurance for Coloradans. The decision to sign these bills is having real impacts on the ability of Coloradans to afford their health insurance as demonstrated by carriers leaving Colorado, carriers wrestling with insolvency, and carriers unable to achieve target reductions for the Colorado Option. We support the goal of saving people money on healthcare and implore legislators and the Governor to stop supporting policies that run counter to will not achieve that goal.”
From 2020 – 2022, CAHP estimates bills passed by the Colorado Legislature have already increased the baseline premium for consumers by 5.5% to 7.92%. SB23-195 and the other bills signed into law in 2023 will only add to those increases.
