YELLOW ALERT: ColoradoCare at ILF 2016
This week, The Council is hosting its annual Insurance Leadership Forum in the state of Colorado, and the topic of Amendment 69 on the Colorado ballot has been top of mind. If passed, this amendment would establish a single-payer health insurance system in the state, wiping out private healthcare and workers’ compensation policies.
Because Colorado uses a vote-by-mail system, Coloradans will begin casting their ballots later this month. The Council urges anyone in the state or with contacts in the state to ensure these issues are clearly understood.
“It is critical for Amendment 69 to be defeated by a large vote,” says Council lobbyist Joel Wood. “If not, it has the potential to come back again, continuing to threaten the market for employer provided benefits.”
A Conversation with Rob Cohen of IMA Financial Group
Joel Kopperud, The Council’s VP of Government Affairs, sat down with Rob Cohen – incoming Council Board Chairman and chairman and CEO of The IMA Financial Group, based in Denver – to talk about ColoradoCare.
ColoradoCare In The News
ColoradoCare creates a tax burden its residents will not be able to support. Not only does the 10 percent tax increase tax employers and employees an additional 6.66 percent and 3.33 percent, respectively, but the self-employed will have to pay the full 10 percent themselves. Not to mention, investments, real estate, business income on personal tax forms, and some retirement income would be subject to the tax as well.
This article provides views of Amendment 69 from two different perspectives. One woman would save money with ColoradoCare, due to a high medical costs from a preexisting condition. However, a small business owner claims he will not be able to operate with the 10 percent tax increase, which will cost him nearly $50,000 for 20 workers.
Bob Mattive, a candidate for state representative House District 62 in Southern Colorado, provides a great overview of potential repercussions of Amendment 69 – Many Colorado doctors have already pledged to leave Colorado if Amendment 69 passes. ColoradoCare will also turn away new providers and rising talent considering moving to Colorado. Lastly, this shouldn’t be treated like an “experiment,” putting many jobs and businesses at risk.