It would finance comprehensive, high quality health care for every Colorado resident.
They would visit their health care professional who would submit a bill to ColoradoCare. In some cases, there may be a small co-payment, but no deductibles.
It would operate using the cooperative business model. Other cooperative businesses are credit unions, rural electric cooperatives, REI, and the Green Bay Packers. As a cooperative, it is owned by the members, who are all the residents of Colorado. The members elect the Board of Directors. Legally, it would be classified as a political subdivision of the State, not under the direction of the legislature, Governor, or any state administrative department or agency.
Colorado voters would need to approve a Colorado Constitutional Amendment on the ballot, which would create ColoradoCare. It would require that an appointed Board create the infrastructure before the elected Board took over.
It would be funded with Federal funds available through Affordable Care Act (ACA) waivers granted to states that can innovate with their own plans to achieve or surpass the goals of the ACA, by Medicaid waivers, and by a Health Care Premium Tax on payroll and non payroll income collected by the Department of Revenue.
When revenues exceed costs, Coloradocare may refund money, increase benefits, or build reserves. If revenues do not keep up with costs, the members would be asked if they would approve a Health Care Premium Tax increase.
Incremental changes to the current systems’ excessive administrative costs only increase the high cost of health care. Changing to a simple and fair system for collecting premiums and financing health care delivery is necessary to reduce the administrative waste and achieve the savings needed to finance universal coverage, improve quality, and lower the costs for Coloradans.
Volunteer signature collectors will carry petitions to place ColoradoCare on the 2016 ballot. When voters approve the Initiative, the start up process beings immediately with full operation anticipated to be Jan.1, 2019.