Colorado health exchange managers want board members to max out a broad market assessment on health insurance customers across Colorado through 2016 while also hiking fees on exchange customers from 1.4 percent to at least 3.5 percent — and possibly as high as 4.5 percent.
“This is a really critical period. We need to become sustainable. We also need to make sure we have adequate sources of funding to keep the organization strong,” said Gary Drews, outgoing interim CEO forConnect for Health Colorado.
Connect for Health sells health insurance to individuals and small businesses in Colorado who are required to obtain coverage under the federal Affordable Care Act.
Before the exchange board meets again later this week to vote, Colorado’s legislative oversight committee will meet on Wednesday to review Connect for Health Colorado’s finances and sustainability plans.
Health insurance companies must file their 2016 rates with Colorado’s Division of Insurance by the end of May. The insurance industry’s lobbyists pressed Monday for a quick decision and warned board members not to hike user fees too high since all of those costs get passed along to customers.
“The challenge really is finding the right balance,” said Ben Price of the Colorado Association of Health Plans. “Fees do factor into the base. … Be diligent. Shoot for the right number and do it very, very quickly.”
Date: May 11, 2015