SB11-200 Colorado Health Benefits Exchange Update
Health Insurance Exchanges will allow for individuals and small businesses to benefit from risk pooling, market leverage and economies of scale that large business currently enjoy. Per federal legislation, every state must have an insurance exchange up and running by January 1, 2014. Should any state decide not to implement a health insurance exchange, the Federal Government will implement one for them.
An exchange is also a marketplace developed with ease of navigation and access, consumer protection and education, and provider transparency in mind. Exchanges will help health insurance providers display their plans and help consumers compare plans side by side. Ratings will be made available on quality, price, benefits and services. There will be federal rules on the minimum services each plan must offer.
The Colorado Health Benefits Exchange Bill (SB11-200) sets up the governance for the Health Benefits Exchange in Colorado. This governance includes an Exchange Board as well as a Legislative Review Committee. The duties of the board include appointment of an executive director, creation of an initial operational and financial plan, application for planning and establishment grants, creation of advisory groups as needed, and the provision of an annual report to the Governor and General Assembly.
The Legislative Review Committee is a committee consisting of General Assembly members that will be charged with reviewing the actions of the Board, some of which may be subject to approval.
At this point the Board of Directors has met eight times. At its August 11 meeting, Gretchen Hammer, Executive Director of the Colorado Coalition for the Medically Underserved, was named Interim Chair. The Board of Directors has been working diligently on drafting the by-laws, a plan of operation for the exchange, conflict of interest policy, searching for an executive director, and working on their grant application for the level one planning grant from the federal government.
For more information on the Health Benefits Exchange, the Board or the Legislative Review Committee, please log onto the Colorado Health Institute at www.coloradohealthinstitute.com or feel free to contact the Chapter's Public Policy Coordinator, Erin O'Reilly at erin.oreilly@nmss.org or 303-698-5412.