A bill that would increase health insurance costs for employers and their employees is headed to the Senate floor.
Senate Bill 178 would fund the Health Insurance Affordability Enterprise through a $40 million assessment on health insurance carriers. In practice, this would mean higher costs for employers who provide coverage and for the employees who rely on it.
Since this fee was first imposed in 2020, policyholders have paid more than $800 million in additional health insurance premiums. SB 178 would add another $40 million, increasing premiums by another $160 per year per household, a significant hit when many families are already paying thousands of dollars in monthly premiums.
State leaders should evaluate government-created programs to ensure they are working as intended and properly funded. That is why the Colorado Chamber successfully worked with legislators last year to require a performance audit of this program.
Instead of waiting for that audit to be completed, SB 178 moves forward with new costs that do not address long-term sustainability or the underlying causes of health care affordability challenges.
This bill increases costs without fixing the problem.
We need the Senate to hear from the business community. Using the Chamber’s simple tool below, please contact your Senator and urge them to OPPOSE SB 178 before it is heard on the Senate floor.