COLORADO SPRINGS, Colo. (KKTV) — A newly passed bill aimed at reducing skyrocketing health insurance premiums is sparking heated debate among Colorado lawmakers over its funding source.
Premium Hikes Expected Statewide
Colorado families are bracing for sharp increases in health insurance costs next year:
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28% statewide average
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38% on the Western Slope
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33% on the Eastern Plains
However, the situation is even more severe due to the expiration of federal subsidies.
“A typical family of four receiving assistance now could see their premiums increase by an average of 175% next year,” said Rep. Kyle Brown (D-12).
How the Bill Works
The legislation proposes borrowing $100 million from the Unclaimed Property Trust Fund to temporarily lower insurance premiums and buy time for a long-term fix.
“This bill helps stop some of the bleeding so that we can hopefully come up with a permanent solution,” Brown said.
Opposition From Republicans
Some lawmakers argue the funding approach is unethical and possibly illegal.
“It belongs to people. And they’re just going to take it out of this fund — that is illegal to do. It is definitely not ethical,” said Rep. Scott Bottoms (R-15).
The Unclaimed Property Trust Fund consists of unpaid wages, uncashed checks, utility refunds, and other funds owed to Coloradans. The state holds the money until rightful owners claim it.
“That money doesn’t belong to the state. It belongs to you,” Bottoms added.
Next Steps
The bill now heads to the Senate, where it will undergo committee review before a final vote.
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Katie is a senior who has been on staff for three years. Her favorite type of stories to write is reviews and features. Katie’s favorite ice cream flavor is strawberry.
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