Colorado lawmakers approve reinsurance bill, which attempts to lower health care premiums statewide

Colorado's 2018 health insurance premiums finalized; 26.7% average increase in individual plans
Posted at 11:51 AM, May 03, 2019
and last updated 2019-05-03 13:51:44-04

DENVER (AP) — Colorado lawmakers have approved a bill designed to lower health insurance premiums for thousands of residents by helping insurers cover the costs of high-risk customers.

The House voted Friday to send the bill to Gov. Jared Polis for his signature.

The bill seeks to lower health care premiums on the individual market by an average 21% statewide. It would have the state cover medical expenses incurred by insurers' highest-risk patients.

It could lower insurance rates by up to 30% in rural areas that are some of the nation's most expensive insurance markets.

The bill directs the state to seek federal approval to implement the program.

Friday is the last day of the 2019 legislative session.