The Billion Dollar Idea

The legislators in Denver have the next billion-dollar idea. They have solved the health care dilemma. All we’ll need is a new committee that will design a “standard” health insurance plan, with richer benefits and with as broad or broader networks and force the insurance industry to sell it at a lower price. Premiums in 2025 will be 18% lower than 2021 health insurance premiums.

Sound too good to be true?

It is. I support the goal, but there is no basis in the real world to believe the proposed plan will work. In fact, a similar effort in Washington state implemented this year led to higher health insurance rates for a standardized benefit plan than the plans the insurance companies already offered.