Colorado Option Public Hearings

What is the purpose of a Colorado Option public hearing?

The Colorado Option (established by HB21-1232) is a market-based solution with mechanisms to hold carriers, health-care providers, and hospitals accountable for reducing the cost of health insurance for consumers purchasing health benefit plans in the individual and small group markets. Carriers operating in the Colorado individual and small group markets must offer a Colorado Option Standardized Plan (“CO Option Plan”) at the bronze, silver, and gold metal levels in counties where they offer non-CO Option Plans. On March 1 each year, a carrier must file CO Option Plan premium rates with the Commissioner of Insurance consistent with the premium rate reduction requirements in § 10-16-1305(2), C.R.S. If a carrier cannot reduce premiums for consumers, the Commissioner of Insurance may hold a public hearing.

When do public hearings occur? 

Public Hearings for CO Option Plans that fail to meet the premium rate reduction and network adequacy requirements will be held by the Commissioner during the Summer of 2025 for the 2026 plan year. 

Where can I find more information? 

This webpage will allow stakeholders to view health insurance carriers’ Premium Rate Reduction filings and related documents, as they become available. The proposed hearing schedule will be posted at the bottom of this page.