Governor Polis, Lt. Governor Primavera Call on Congressional Delegation to Extend Enhanced Premium Tax Credit, Help Save Coloradans Money on Health Care

DENVER - Governor Jared Polis and Lt. Governor Dianne Primavera sent a letter to Colorado's Congressional delegation calling on them to extend the Enhanced Premium Tax Credit so that Coloradans will not see their health care bills spike at the end of September.

Yesterday, Governor Polis hosted a roundtable discussion in Grand Junction with small business owners, non-profit and chamber leaders, and local elected officials to discuss the impacts on Western Slope businesses and Coloradans who buy health insurance through the Affordable Care Act marketplace.

"Drastic cuts in federal support have ripple effects that harm entire communities. Without the tax credit, a family of four who have previously qualified, earning 400% of the federal poverty line ($128,000 per year on the Western Slope), will experience over $25,000 in premium increases for their coverage. Rural hospitals and safety net providers will see uncompensated care rise sharply as people are forced to go uninsured, which raises costs for all patients and threatens to put health care providers in rural and hard to reach parts of our state out of business. Without access to health care, small businesses, entrepreneurs, farmers, and ranchers will face cost increases," wrote the Governor and Lt. Governor.

Nearly 225,000 Coloradans and 20 million Americans depend on the tax credit to afford health coverage in the individual market. If the credit is allowed to expire, average premium increases will exceed 170% for marketplace customers in Colorado, with people in some rural counties facing increases of more than 300 percent. Families, ranchers, and small business owners on the Western Slope and Eastern Plains will be hit the hardest, as will hospitals and other health care providers that already operate on the margins.

"We urge you to protect the health and financial stability of Colorado families, small businesses, and rural hospitals by acting now to extend the tax credit. Failure to act by the end of September will double or triple health insurance costs for hundreds of thousands of Coloradans starting on January 1, forcing families to choose between keeping health insurance coverage or paying their rent or mortgage, and needlessly pushing many to go uninsured," the letter continues.

District-level data from the Colorado Division of Insurance and Connect for Health Colorado underscores how significant the impact on net premium increases would be across Colorado if the tax credit expires:

• 
  CO-01: Premiums for Coloradans currently eligible for the tax credit will rise by 164% in Denver County, 179% in Arapahoe County, and 161% in Jefferson County, increasing the number of uninsured Coloradans by 25%.
• CO-02: Premiums for Coloradans currently eligible for the tax credit will rise by 114% in Boulder County with a 28% enrollment loss, and by 194% in Larimer County with a 15% enrollment loss. Mountain counties such as Eagle, Routt, and Summit will see increases over 148%, increasing the number of uninsured Coloradans by 35%.
• CO-03: Premium increases for Coloradans currently eligible for the tax credit will range from 143% - 334%, including increases of 170% in Mesa County, 262% in Garfield County, and more than 330% in Delta and Montrose Counties, increasing the number of uninsured Coloradans up to 38%.
• CO-04: Premium increases for Coloradans currently eligible for the tax credit will range from 131% to over 300%; with families in Crowley County facing 334% premium increases, increasing the number of uninsured Coloradans by nearly 40% on the Eastern Plains.
• CO-05: Coloradans in El Paso County who are currently eligible for the tax credit will face 159% premium increases, increasing the number of uninsured Coloradans by 27%.
• CO-06: Premiums for Coloradans currently eligible for the tax credit will rise by 176% in Adams County, 179% in Arapahoe County, and 161% in Jefferson and Douglas Counties, increasing the number of uninsured Coloradans by 25%.
• CO-07: Premiums for Coloradans currently eligible for the tax credit will rise by 114% in Boulder County with a 47% enrollment loss. Rural counties such as Custer and Fremont will see increases above 265%, increasing the number of uninsured Coloradans by 38%.
• CO-08: Premiums for Coloradans currently eligible for the tax credit will rise by 176% - 195% in Adams, Larimer, and Weld counties. Weld County will be one of the areas hardest hit by loss of coverage, increasing the number of uninsured Coloradans by 25%.

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