The recently proposed Colorado Health Insurance Option (HB21-1232) poses a real threat to our economy and our job creators. For consumers, the proposed state government-run health insurance system comes down to less choice, longer waits and higher costs.
According to a new study from Common Sense Institute, the proposed public option would impose price mandates for health care services in Colorado, without actually lowering the cost of delivering those services. As a result, payments to doctors, nurses, hospitals and other health-care providers for treating patients could be cut by as much as $1 billion by 2024. Thatâs $1 billion â with a âbâ â in a system that has been pushed to the brink fighting the COVID pandemic.
Colorado led the nation during the economic recovery after the 2008 Great Recession, but representatives from business groups said Tuesday that it won’t be repeated, given $1.8 billion in new regulations, fees and taxes.
“We emerged stronger, created jobs faster because we fostered a strong business climate,” and it made Colorado the envy of the nation, said Kristin Strohm of the Common Sense Institute, who was joined by leaders from the state’s largest chambers of commerce: Kelly Brough of Metro Denver, Loren Furman from the Colorado Chamber of Commerce and Rachel Beck from the Colorado Springs Chamber.
But Colorado has been overrun by an onslaught of taxes and fees in the last three years, Strohm said, making slim the chances of a similar economic recovery.
Colorado led the nation during the economic recovery after the 2008 Great Recession, but representatives from business groups said Tuesday that it won t be repeated, given $1.8 billion in new
A report from the Common Sense Institute, a nonpartisan group that advocates for a free market, shows potential roadblocks on Colorado’s path to economic recovery.
Ahead of a Colorado Chamber of Commerce announcement on the impact of new taxes, the Denver-based Common Sense Institute added up the costs in an analysis obtained by Colorado Politics Monday morning.
Whether they are fees, which the legislature can authorize, or taxes that must be approved by voters, current proposals would ring up $1.8 billion a year in each of the next three to five years, analysts estimated.
While that s good for state government, it will be a strain for recovering businesses, experts are expected to say at a Tuesday press conference.
The white paper breaks down the cost of each individual proposal.