The morning after the historic U.S. House of Representatives vote on health care reform, there was joy in some circles, anger in others and confusion all over the place — including at Colorado’s biggest health-insurance companies.
Asked what the legislation could mean for them and their existing customers, as well as what additional customers it might bring, several of the state’s insurers gave answers that were variations of “we don’t know yet.”
Representatives of two of the state’s largest insurers, Anthem and Cigna, did say they are certain the law doesn’t do enough to keep health care costs from going up further.
Beyond that, both companies said it is too soon to predict much. Representatives of Colorado’s largest insurer, United Healthcare, did not respond to requests for comment.
“We recognize this legislation has historical significance and is going to expand access to 32 million people,” said Dave Guilmette, president of Cigna’s national segment.
Guilmette said he expects half of those 32 million uninsured to join Medicaid rolls.
“But as far as what’s going to be available for the other half, that’s going to take several years to transpire,” he said.
Like consumers, companies say they are sorting through the legislation’s provisions and when they take effect.
Six months after the legislation is enacted — President Barack Obama’s signature is expected today — many plans will no longer be able to limit lifetime coverage, retroactively cancel coverage for people who get sick or deny coverage to children with pre-existing conditions. In addition, young adults — the largest single segment of uninsured Americans — could now retain coverage through their parents until age 26.
Those millions may represent new, paying customers for insurance companies.
“It’s a market that certainly we’re interested in and we’re playing in today,” Guilmette said. “It’s still too soon to tell what that’s going to mean in terms of the kinds of products we’re going to need to offer and what they will look like.”
Karen Auge: 303-954-1733 or kauge@denverpost.com
