Making (Dollars and) Cents of Health Care Costs in Colorado
July marked a troubling month for Coloradans who purchase insurance through Connect for Health Colorado. The Division of Insurance released proposed health insurance rates for 2018, and the outlook is not good. On average, premiums are expected to increase 27 percent.
Joe Hanel, CHI’s insurance rates guru and manager of public policy outreach, released an in-depth analysis of the proposed rates that you can read here. The bottom line — rising health care costs and uncertainty in Washington are likely driving the increase.
Determining exactly how soaring health care costs and rising insurance premiums affect Coloradans isn’t easy. One way to evaluate “affordability in health care” is through the Colorado Health Access Survey (CHAS). Carried out every other year, this survey helps Colorado policymakers better understand the landscape of health access around the state.
The 2015 CHAS included a question that gauged how respondents felt about paying for medical expenses, and the results were telling. Respondents along the I-25 corridor felt more financially protected against medical bills than those in rural areas of the state. Check out the full analysis here.
Funded by the Colorado Trust, this year’s survey went a step further and included several new questions. Topics include how people feel about their premiums, co-pays, co-insurance, deductibles, and range of services covered by their health insurance plans. We also asked respondents if they had a Health Savings Account (HSA).
It might seem like the responses to these questions would be obvious (does anyone really like to pay health insurance premiums?), but how people answered is telling. For instance, whether people are happy with their premiums can vary widely. Geography, age and income all play into how a person feels about what comes out of their pocket every month.
These new questions also open the door for new analyses on how insurance indicators affect each other. Are people who are happy with their deductibles unhappy with the range of services covered? Is the opposite also apparent? Which Coloradans are most likely to have a Health Savings Account? With the release of the 2017 CHAS, CHI plans to examine each of these questions.
We don’t expect the issue of “affordability in health care” to go away any time soon. Coloradans are feeling pressure from rising insurance costs, and are looking for answers. Armed with fresh CHAS data, CHI’s team of experts is poised to provide in-depth analyses on this important topic and many more. Be sure to follow us on Facebook, Twitter, and sign up for our newsletter to stay up to date with our most recent analyses.