<<!-- PICOTITLE= "Health Insurance Market in Colorado" --> <!-- PICODATESET mmddyyyy=08202001 -->. HOT ISSUES IN HEALTH CARE. Sponsored by Rose Community Foundation. HEALTH INSURANCE MARKET IN COLORADO. W. N. Lindsay Benefit Management & Design, Inc. 1720 South Bellaire Street, Suite 250
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<<!-- PICOTITLE= "Health Insurance Market in Colorado" --> <!-- PICODATESET mmddyyyy=08202001 -->
Rose Community Foundation
W. N. Lindsay
Benefit Management & Design, Inc.
1720 South Bellaire Street, Suite 250
Denver, CO 80222
*Estimate is statistically different form the previous year shown: 1996-1999, 1999-2000, 2000-2001, 2001-2002.
Note: Data on premium increases reflect the cost of health insurance premiums for a family of four.
SOURCE: KAISER FAMILY FOUNDATION AND HEALTH RESEARCH AND EDUCATIONAL TRUST, SEPTEMBER 5, 2002
Source: Mercer/Foster Higgins National Survey of Employer-Sponsored Health Plans 2001
Note: Growth rates based on total enrollment, not the rounded-off numbers given in this chart
SOURCE: EBRI 5/30/02
Sources: Kaiser/Health Research and Educational Trust (HRET) Survey of Employer-Sponsored Health Benefits, 1999, 2000, 2001; and KPMG Survey of Employer-Sponsored Health Benefits, 1996, 1998.
But they may have lost the war.
Shift cost to employees
Higher deductibles & OOP limits
No reimbursement until a claim is processed
Removal of copayments from plans
Collections on an individual employee basis
Increased bad debt
No assignment of benefits for non-contracted providers
Source: Prosperity Institute Report 2/2002
And…there have been a few explosions!
Source: Interstudy Statistical Report 2000
Source: Colorado Division of Insurance, May 2001
Source: Colorado Division of Insurance April 30, 2002
Pass on Cost Increase
Source: BMAD Employer Surveys
The size of the pool is shrinking!
Different sets of rules!
Self-funded small employers 8-10%+
Individual insurance 3-7%+
Employee leasing companies 2-5%+
Others (METS, MEWAs, etc.) 3-5%+
Example of individual insurance
Age 25 $125.89
Age 35 $150.13
Example of small employer group insurance
Age 25 $193.25
Age 35 $206.41
$500 deductible, 90/60% PPO, $5,000 Coinsurance, $20 office copay,
10/30/50 Rx, 6/02 Denver rates
Individual Insurance is Cheaper
"Picking a healthcare financing system is kind of like picking someone to marry--you're picking a set of problems you are prepared to live with.”
Marc J. Roberts, Ph.D., Harvard School of Public Health