Colorado Health Benefit Exchange

Colorado Health Benefit Exchange
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Mission: “The mission of the Colorado Health Benefit Exchange is to increase access, affordability, and choice for individuals and small employers purchasing health insurance in Colorado.” Approximately one in six people in Colorado are currently uninsured and most of them work in places that do not offer health insurance. As part of Colorado’s effort to […]Continue reading «Colorado Health Benefit Exchange »

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Mission: “The mission of the Colorado Health Benefit Exchange is to increase access, affordability, and choice for individuals and small employers purchasing health insurance in Colorado.”
Approximately one in six people in Colorado are currently uninsured and most of them work in places that do not offer health insurance. As part of Colorado’s effort to improve healthcare, stakeholders first came together to discuss creating an insurance exchange during the summer of 2010. The governor’s office applied for a planning grant from the federal government later that year to start the project. Senate Bill 11-200 establishes the Colorado Health Benefit Exchange as a non-profit, public organization and was passed by the Colorado General Assembly in May 2011. The Exchange board consists of 9 voting members and 3 ex-officio members who advise but do not vote. A Legislative Health Benefits Implementation Review Committee reviews Board progress, applications for grants, operational plans, and hiring. Colorado Consumer Health Initiative also closely watches the actions of the Exchange.  
The Exchange is set to open in October 2013. It will be a marketplace where Coloradans can compare different health insurance plans by looking at their quality and price. In addition, the Exchange will allow small business to have better coverage choices and protection. This marketplace will be web-based and have a call-center to assist Coloradans through the health insurance purchasing process. The site will employ government databases to determine one’s eligibility for tax credits. 
The United State Congress is funding all operation costs of the exchange until 2014. After that, the Exchange is expected to produce enough revenue to be self-sustainable. Earlier this year the program received a large grant from HHS and is now using that money to hire staff and advance the program technologically. The board is meeting with many technology vendors to see how different requirements can be incorporated into the system. Consumer experience and financial practices have also been topics of discussion. 
The Colorado Exchange will not offer every health plan that is available on the market today. Instead, it will offer plans that provide necessary levels of coverage and meet the new requirements to protect consumers. Four categories of plans will be available: bronze, silver, gold and platinum. Each one will offer a different level of coverage. Tax credits are expected to greatly help small business owners provide insurance to their employees. The goal is to insure as many people as possible so Colorado believes there soon will be an insurance solution for everyone. 
Information from: http://www.getcoveredco.org/Index 

 

 

Address

3773 Cherry Creek N. Dr. Suite 1025 Denver, CO 80209.

Phone

720-496-2531


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