Danny Katz
Executive Director, CoPIRG
Executive Director, CoPIRG
CoPIRG Foundation
After weeks of analysis, the Colorado Consumer Health Initiative (CCHI) identified several proposed health insurance rates that need increased scrutiny to ensure their 2015 prices are properly justified. CCHI submitted their findings on nine different rate filings along with over 700 petitions gathered by the CoPIRG Foundation to the Colorado Division of Insurance (DOI), which will review and either approve or deny the health plan proposals by early September.
According to the analysis, problems in 2015 prices include overly secretive projections of enrollee health, overestimates of prescription drug costs, and more.
“As health insurance companies propose new rates for 2015, it’s critical the Colorado Division of Insurance makes sure insurance companies prove they have done everything they can to keep costs low without sacrificing quality care,” said Danny Katz, Director of the CoPIRG Foundation. “Consumers are counting on them to stand up for us and carefully scrutinize every proposal to make sure that every penny is justified.”
In late June, the Colorado Division of Insurance publicly released health insurance companies’ proposed prices for their 2015 plans. Under the proposals, some plan’s premiums would decrease while some would increase. Every proposal will be reviewed by the DOI and will either be approved or denied by early September.
In an effort to help the DOI determine whether the costs and prices for 2015 have been properly justified, CCHI analyzed nine specific plans. Coming out of that analysis, they identified the following problems that the DOI should pay particular attention to:
“We have asked that the Colorado Division of Insurance verify that no insurance company is taking advantage of consumers in this mass filing process,” said Adam Fox, Director of Strategic Engagement for the Colorado Consumer Health Initiative. “Coloradans need access to affordable health insurance so they can get the health care they need, when they need it.”
Earlier this week, the CoPIRG Foundation submitted over 700 comments from Colorado consumers calling on the DOI to ensure health insurance companies have justified every penny. Over the upcoming weeks, the CoPIRG Foundation and CCHI will continue to watchdog the rate review process and outreach to Coloradans across the state to raise their voice.
You can follow their work at @CoRateWatch.