June 24, 2022
  • The Centers for Medicare & Medicaid Services (CMS) approved Colorado’s Section 1332 state innovation waiver to create its own state-specific public option plan starting next year. Colorado is the first state to get approval for a public option plan. The plan, which will operate within Colorado’s reinsurance program and be sold on the Affordable Care Act (ACA) exchanges, must cover all essential health benefits required by the ACA. It expected to lower premiums by an average of 22 percent, or approximately $132 per person a month. Under state law, the option plan also must lower premiums by 5 percent in 2023, 10 percent in 2024, and 15 percent in 2025. (Press release here; Article here)