“People deserve to know what they are being charged for hospital services. In Colorado, we have made important strides to improve hospital transparency and help save consumers money so it’s terrific to see the Biden administration follow our lead and to have a federal administration focused on driving down costs for consumers,” said Governor Polis. “I was proud that one of the first bills I signed as Governor to improve hospital transparency in Colorado and determine the true cost of care, and there is more work to be done.”
President Biden’s recent action directs the U.S. Health and Human Services Department to support existing hospital price transparency rules and to finish implementing bipartisan federal legislation to address surprise hospital billing.
As required under the Affordable Care Act, a recent federal hospital price transparency rule took effect January 1, 2021, requiring hospitals to post all prices online. A recently released report on the data found that nine out of ten Colorado hospitals sampled were out of compliance with federal reporting requirements. This is concerning, clearly more information about how Colorado’s hospitals are doing is needed and the sampled group should improve.
Governor Polis signed House Bill 19-1001 on hospital transparency into law on March 28, 2019.
This year, Governor Polis signed HB21-1232 Standardized Health Benefit Plan Colorado Option which will save Coloradans money on health care by creating the Colorado Public Option. By 2025, its premiums will have to be 15% less than the rates insurers offered in 2021, adjusted for inflation. Gov. Polis also signed SB21-175 Prescription Drug Affordability Board: Saves Coloradans money on the cost of prescription drugs by creating a Prescription Drug Affordability Board tasked with capping the high cost of prescription drugs for top prescriptions and a bill to create the Behavioral Health Administration as recommended by the Behavioral Health Taskforce, which will provide leadership and help to unify and streamline our state’s behavioral health response.