Denver, CO — Today, the Colorado Division of Insurance announced that it will be receiving $245 million in pass-through funding from the Biden Administration for its health insurance programs — including the highly successful Colorado Option. This investment, awarded to Colorado in recognition of the reduced premiums and cost-savings delivered by its programs, will further reduce insurance costs for people across Colorado.
“We’re so excited to see this pass-through funding announcement, a clear recognition of just how much the Colorado Option is making health care more affordable through lower premiums,” said United States of Care Director of Policy Solutions Liz Hagan. “This investment will further strengthen this highly successful program as the federal government awards the money saved on health insurance subsidies back to Colorado. The Biden Administration is seeing the same success we are, and with this substantial investment in Colorado’s health insurance programs, people will continue to reap the benefits.”
This critical milestone for the Colorado Option comes on the heels of other exciting positive developments for Colorado’s breakthrough public option. Earlier this year, it was announced that approximately 35,000 Coloradans enrolled to receive affordable, dependable quality health insurance through the Colorado Option — exceeding the anticipated uptake rate of just 10,000 enrollees.
Similarly, the Colorado Option’s premium reduction targets, designed to make health care more affordable for all people seeking coverage on Colorado’s marketplace, successfully secured lower premiums for people across Colorado.
About United States of Care
United States of Care is a nonpartisan organization committed to ensuring that everyone has access to quality, affordable health care.