What is driving health care costs and premiums in your community - - PowerPoint PPT Presentation

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what is driving health care costs and premiums in your
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What is driving health care costs and premiums in your community - - PowerPoint PPT Presentation

Nov 08, 2023 109 likes •331 views

What is driving health care costs and premiums in your community CoverCO Tour Denver What our health care $s are used for 2 What are Premium $s Are Used For 3 Factors driving premiums Age 4 Factors driving premiums Cost per

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What is driving health care costs and premiums in your community

CoverCO Tour – Denver

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What our health care $s are used for

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What are Premium $s Are Used For

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Age

Factors driving premiums

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Cost per Unit/Service

Factors driving premiums

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Utilization/How many “units” are people using in an area

Factors driving premiums

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Cost per Unit/Service

Factors driving premiums

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Utilization/How many “units” are people using in an area

Factors driving premiums

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Factors driving premiums

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Factors driving premiums

Blue = Inpatient Red = Outpatient Green = Professional Services Purple = Rx

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Who holds the cards?

  • Trend of hospital/provider and insurer consolidation less of a factor

than Denver/northern I-25, but still happening. Scarcity of providers / “only game in town” in some areas.

  • Centura and Parkview in Pueblo, Centura and UCHealth in Co Springs
  • 2-3 insurers for individual on-exchange: Kaiser, Anthem, & Friday

Health + Bright Health in Co Springs

  • 2019 Medical Enrollments through C4HCO:
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cohealth.co/hospvaluerpt

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Hospital Price Variation

https://www.rand.org/pubs/research_reports/RR3033.html

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Reinsurance! – insurance for insurance companies to cover high cost claims

But there is good news!

Rating Area Premiums w/o reinsurance Premiums w/ reinsurance

  • 1. Boulder

2.1%

  • 14.5%
  • 2. Colorado Springs

0.8%

  • 15.0%
  • 3. Denver

0.8%

  • 15.7%
  • 4. Ft. Collins

0.7%

  • 18.3%
  • 5. Grand Junction

0.7%

  • 28.2%
  • 6. Greeley

1.2%

  • 17.7%
  • 7. Pueblo

0.6%

  • 26.3%
  • 8. East
  • 3.0%
  • 27.2%
  • 9. West
  • 1.2%
  • 30.0%
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Regional rates by carrier

Individual and Small Group markets

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Regional rates by carrier

Individual and Small Group markets

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More robust consumer protections and limits

  • n charges!

Fixing Surprise Bills

  • HB19-1174
  • Prohibits hospitals/providers from sending surprise
  • ut-of-network bills (aka – balance bills) when

consumer should be protected

  • Sets benchmark reimbursement rate for out-of-

network charges (i.e. limits impact of out-of- network charges on premiums)

  • Caveats – helps some consumers and insurers more

than others (still need federal level legislation!)

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Creating a more affordable health coverage

  • ption

Public Option 2021?

  • HB19-1004
  • Stakeholder meetings June-August
  • Recommended plan/structure release late Sept. and

public comment period – first couple weeks of October

  • Recommendations to legislature finalized by Nov. 15
  • Leg. Session 2020
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…without real cost containment, health care costs will continue to rise.

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Questions?