Senate Passage of Colorado Health Insurance Option is Progress for Small Businesses

“The Colorado Senate’s passage of HB21-1232 means another step forward for this commonsense solution to the high cost of healthcare, and another hurdle cleared for small business owners who struggle to access quality, affordable health insurance.  

We have heard extensively from small business owners across the state about how access to affordable benefits can directly benefit their businesses, particularly those in industries that face additional barriers to accessing affordable health coverage. Small businesses are supportive of this legislation because it would help lower their costs and make it easier to access coverage. 

Additionally, we are relieved the small group market remains in the bill despite concerted attempts to remove it. This provision is critical given that thousands of small businesses purchase their health insurance through the Colorado small group market, and we know many of them struggle with the cost of employer-sponsored coverage.

But the Colorado Health Insurance Option is about more than lowering monthly premiums for individual Coloradans: This legislation is critical to our recovery from COVID-19 because our ability to rebound from the pandemic hinges on the success of our small business community, and they need access to health coverage that makes sense for their bottom lines and ensures they and their workforce can stay healthy.

And even once we do recover from COVID-19, HB21-1232 will continue to make a difference. Research from Small Business Majority found that more than 1 in 3 small businesses have struggled to access health insurance for themselves and their employees during the pandemic, and it’s been even more of a challenge for entrepreneurs of color, facts that aren’t likely to change even when the economy improves.

We applaud the Colorado Senate for passing the Colorado Health Insurance Option, and we urge Gov. Polis to sign this critical measure as soon as possible.”