Resist Haste Towards Single-Payer Health Coverage | Insight
TL/DR –
State Senator Jim Smallwood criticized HB24-1075, a bill that would push Colorado further towards a state-controlled health care system. According to Smallwood, such a system was previously rejected by Colorado voters and it would potentially double the state’s budget and cost residents nearly $65 billion annually. Smallwood also criticized the Colorado Option, a government-controlled health insurance plan implemented three years ago, arguing that it has failed to lower insurance premiums and has led to four insurance carriers exiting the market.
Demystifying Colorado’s “Single Payer” Healthcare System Proposal
The current state legislative session is viewed by many, including myself, as a crucial opportunity to advocate for solutions to common problems faced by Coloradans. However, some lawmakers are advocating for disruptive health care policies that have been previously rejected, such as those proposed in HB24-1075, the focus of this article.
HB24-1075 aims to move Colorado towards a state-controlled healthcare system, despite evidence that such a “single payer” system would require untenable tax increases. The nonpartisan Colorado Health Institute has revealed that such a system would more than double the state’s budget, costing nearly $65 billion annually and running a nearly $8 billion annual deficit by 2028.
The Reality of Colorado’s Government-Controlled Health Insurance
The “Colorado Option” is a case study that showcases the issues with government-controlled health insurance. Passed three years ago, it promised a lower-cost option for residents, increased affordability, and a stronger health insurance market.
Unfortunately, the impact of Colorado Option has not lived up to its promise. In fact, insurance premiums have increased by an average of 10% across plans, and private health plans are often the more affordable choice for consumers. The arbitrary rate reductions imposed by the state have led to the exit of four insurance carriers, leaving Coloradans with fewer choices for health coverage.
The Implication of Government-Controlled Health Care Systems
Government interference in the health coverage market has led to fewer options and higher prices for Coloradans. It’s disappointing that despite the evident failures of the Colorado Option, some lawmakers are still advocating for a “single payer” system.
I was part of the team that designed and passed the state’s reinsurance program, which has brought some relief to residents in high-cost areas. In contrast, the Colorado Option has only inflated costs, demonstrating that a one-size-fits-all, government-controlled insurance system simply doesn’t work.
We should focus on creating a health care system that prioritizes access to high-quality care, affordability, and patient choice. To this end, I urge my peers in the state Senate to reject the “single payer study” bill and pursue practical bipartisan solutions instead.
Jim Smallwood is the state senator for District 2 in Douglas County, and Ranking Member of the Senate Health and Human Services Committee.
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