Colorado Hospital Association Statement Regarding Projected Decrease in Individual Health Insurance Marketplace in 2020
“Colorado hospitals recognize that health care costs have reached a crisis point for many Coloradans, and they have been committed to improving affordability in the state through a variety of efforts – including increasing price transparency, advancing patient safety and quality, ensuring care is provided at the right place and right time, investing in community benefit, voluntarily reducing prices and more,” said Steven J. Summer, CHA president and CEO.
“We are pleased that the Insurance Commissioner is projecting a decrease in premiums on the individual market for 2020, as it reflects the many efforts by hospitals and providers to take ownership of their portion of the total cost of care. In fact, a recent report credited moderate hospital spending with restraining overall health spending, and we believe that is evidenced in this release from the state. In addition, Colorado hospitals will be the main source of funding for the state’s two-year reinsurance program, further indication of the role that hospitals are playing in improving affordability for Coloradans.
“We believe that driving further change will require others in the industry, including the insurance companies, pharmaceutical companies, device manufacturers and other providers, to join hospitals in this ongoing commitment to reduce health care costs.”
About Colorado Hospital Association
Colorado Hospital Association (CHA) is the leading voice of Colorado’s hospital and health system community. Representing more than 100 member hospitals and health systems throughout the state, CHA serves as a trusted, credible and reliable resource on health issues, hospital data and trends for its members, media, policymakers and the general public. Through CHA, Colorado’s hospitals and health systems work together in their shared commitment to improve health and health care in Colorado. Learn more at www.cha.com.
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