DENVER (AP) - The Latest on a Colorado reinsurance proposal (all times local):
1:55 p.m.
A Senate panel has postponed consideration of a Colorado health reinsurance bill so its sponsors can ensure the plan’s proposed funding conforms with federal rules.
Democratic Sen. Kerry Donovan, a bill sponsor, says a Senate Health & Human Services hearing set for Thursday has been postponed.
The bill would create a state-run insurance plan for the highest-cost medical bills of customers on the individual health insurance market.
By sparing private insurers those costs, sponsors hope the insurers can substantially lower their premiums for the 251,000 Coloradans insured in the individual market.
As currently written, funding would come from fees paid by hospitals, state and federal money.
Donovan says lawmakers want to ensure that formula meets U.S. rules.
U.S. approval is required for any state reinsurance plan since it would require hundreds of millions of dollars from the federal government.
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11:55 a.m.
Colorado lawmakers are set to advance legislation to create a state reinsurance plan that would help private health insurers lower individual premiums.
The legislation would have the state, rather than private insurers, cover some of the most costly medical bills incurred by patients on Colorado’s individual market.
That market includes more than 250,000 people who buy health coverage directly from insurers.
Colorado’s rural residents frequently pay $500 a month more than Denver residents do.
The Senate Health & Human Services Committee hears the bill Thursday.
Its sponsors - Democratic Sen. Kerry Donovan and Rep. Julie McCluskie, and Republican Sen. Bob Rankin and Rep. Janice Rich - represent rural areas.
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