Reinsurance Bill Passed by Colorado Committee

Denver—Western Slope communities might get a little financial relief from exorbitantly high health costs under a bill that was passed this week by the Health and Insurance Committee.  The so-called “reinsurance” measure introduced by Carbondale Republican Senator Bob Rankin when he was in the house, was defeated last year.  This year’s version however has gained bipartisan support. The bill looks to reduce insurance premiums for individuals  and families by the first of next year.  The bill would allow the state insurance commissioner to apply for a state innovation waiver for federal funding to assist health insurers in paying high cost claims.  House Bill 1168 will establish three tiers from the highest cost areas of the state (Western Colorado) to the lowest.  The bill stipulates that the reinsurance program could sunset in five years or be renewed.