Cover Colorado is designed to limit the financial losses of those who fall ill and do not have insurance--at a price. If one purchases insurance before one becomes ill, then insurance companies do bear the risk because most policies are guaranteed renewable. The reason we have guaranteed issue policies like Cover Colorado in every state is to take care of people who want to protect their assets but are uninsurable either because they had employer provided insurance and lost their jobs, have an ininsurable condition from childhood, or decided not to insure themselves, got sick, and need someone else to help with the bills. At present, both taxpayers and current premium payers contribute to Cover Colorado. The people who have insurance pay twice--once through higher premiums and once via the tax system.

• posted by Linda Gorman
• January 13, 2008 @ 4:45 pm
• Permalink

Your statement seems very straight forward. Obviously, the numbers don't lie...or do they? As someone who was considered completely uninsurable by the private market (no private insurance company would cover me as a individual for any amount), Cover Colorado was my only option. While it cost more, I understood that was because I am high risk. Only the government supported company was even willing to take that risk.

• posted by Katie
• December 17, 2007 @ 6:11 pm
• Permalink

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