Rising health care costs are presenting serious challenges for Coloradans. Between 2000 and 2010 the average yearly premium for a family with private insurance skyrocketed from $6,797 to $13,393 — a 97 percent increase. In order for policymakers to make effective decisions about containing costs, more needs to be known about the drivers of rising health care costs.
The Affordable Care Act made quality health care more affordable for hundreds of thousands of Coloradans, but health care costs continue to rise at unsustainable rates. Health care spending accounts for over 17 percent of the United States’ economy and is expected to grow to 34 percent by 2040. Increases in the cost of health care are unsustainable for federal and state budgets and are creating ever rising health insurance premiums, making it harder for workers and employers to make ends meet.
The bipartisan State Health Care Cost Containment Commission, co-chaired by former Colorado Governor Bill Ritter, recommended that states form an alliance of stakeholders and government officials to help improve the quality of health care while lowering overall costs. States like Alaska and Massachusetts have begun to examine what is driving health care costs and develop solutions to address them. Each state has taken a unique approach to identifying cost drivers and is taking state-specific steps to address health care costs.
CCLP is actively supporting efforts by Senator Irene Aguilar to create a bipartisan commission that would identify, examine, and report on the principle health care cost drivers and make recommendations that will control health care costs while maintaining the value and quality of health care. Click here to learn more.