Taking a Closer Look at Colorado HB 1389
Colorado House Bill 1389, dubbed the Fair & Accountable Insurance Act, was approved by the House Business Affairs & Labor Committee. It now goes to the House Appropriations Committee. This bill, introduced by Rep. Morgan Carroll (D-Aurora) and Sen. Paula Sandoval (D-Denver), addresses a very complicated issue and we at the Colorado Health Insurance Insider are taking a closer look at all of the angles and possible ramifications it might have. On Monday, we’ll let you know what we think about the possible effects on health insurance rates in the future, and your ability to get claims paid fairly.
In the meantime, leave your comments below and let us know what you think about Colorado House Bill 1389. Have a good weekend……
Update: View our Colorado HB 1389 opinions here
Is there anything about underwriting in this bill? If it goes through, these individual health insurance companies could just start increasing rates by a bigger percentage and more often on people with any type of health condition. Then they really come out ahead by possibly decreasing the number of healthy uninsureds in Colorado, but increasing the number of uninsureds that aren’t in “perfect” health.
I don’t know how you would even think about supporting this bill. For my zip code (Littleton), I saw plans from 10 different health insurance companies on your quote engine. Those 10 companies are all competing against each other for market share. They need to have the best combination of low prices and good coverage to sell a policy to consumers over the other companies. The actuaries for these companies are going to make sure they have the lowest possible prices to get an edge. This bill would just be more wasteful beauracracy.