ColoradoCare could come up billions of dollars short, independent analysis finds

The Colorado ballot initiative that would create a universal health care system in the state could come up nearly $8 billion short of its annual revenue needs by the 10th year of the program, according to a new analysis released Monday.

According to the report, put out by the independent Colorado Health Institute, the system would come close to breaking even in the first year and would succeed in reducing total health care spending in the state by billions of dollars over its first 10 years compared to the status quo. Those savings would come from money that currently goes to administrative costs and insurance company profits, the report finds.

But the analysis concludes the system — which would be known as ColoradoCare — would fall deeper and deeper into the red as the cost of health care climbs over the next decade.

The only way to make up for that deficit would be to raise taxes, cut benefits or reduce the amount paid to doctors, the analysis argues.

Read more: http://www.denverpost.com/2016/08/08/coloradocare-billions-of-dollars-short/