After several tries, the bill to set up the Colorado Option Health Benefit Plan got its first hearing Friday in the House Health & Insurance Committee in a 10-hour hearing that drew more than 100 witnesses.
But negotiations that went on all day Friday between sponsors and the healthcare industry means action on the bill including amendments will be delayed until next Tuesday.
As introduced, House Bill 1232 gives the healthcare industry doctors, hospitals and health insurers two years to reduce health insurance premiums by 20% (10% per year) in the individual and small group market. The individual market is about 8% of insured Coloradans; the small group market, which is small businesses with 1 to 100 employees, is about 15% of insured Coloradans.