Why does health insurance cost so much?
That question plagues consumers and business owners every year about this time, as they receive notice that the cost of health insurance is once again on the uptick.
A new health insurance website from the Colorado Division of Insurance hopes to answer that question and many others. The website is being unveiled September 1 through public service announcements and other outreach efforts over the next few months by DORA’s Division of Insurance.
“This new website will help arm consumers with the facts on what drives the cost of health insurance premiums, how to ‘shop smart’ for health insurance, and how to get help when an insurance claim is denied,” said Commissioner of Insurance Jim Riesberg. “The information on this website will help consumers become better informed, so that everyone can get the most benefit from the insurance they buy.”
Colorado is one of the states that received a grant from the U.S. Department of Health and Human Services to assist with rate review implementation at the state level. Consumers receive little or no information about proposed premium rate increases, and aren’t told why health insurance companies want to raise rates. This new website has many tools to help consumers become more informed about health insurance, including rate review, and other important topics.
“We want to congratulate the hard work of the Colorado Insurance Commissioner, Jim Riesberg, and his talented team, for taking full advantage of opportunities made available through the new health care law, the Affordable Care Act,” said Marguerite Salazar, the Regional Director for the U.S. Department of Health and Human Services, Region VIII. “The Affordable Care Act is bringing an unprecedented level of scrutiny and transparency to health insurance rate increases, and this new website launched by the Colorado Insurance Commissioner is a shining example of consumer-friendly and transparent information designed to help consumers make informed choices and better understand their health care.”
Consumers will find the website a one-stop shop for information on the types of health insurance available in Colorado, what to look for when shopping for health insurance, the factors that affect the cost of health insurance premiums, the latest news on federal health care reform, and a search tool that will help consumers review the premium rate increases requested by insurance carriers.
The website is available at www.askdora.colorado.gov
and click on the “”Are You Prepared for Changes in Health Insurance?” button.