ColoradoCare’s “analysis” cannot be trusted

ColoradoCare’s “analysis” cannot be trusted
Campaign spokespeople out-of-touch and disingenuous

DENVER—This week, supporters of ColoradoCare, formally known as Amendment 69, claimedtheir system could operate for at least nine years without running a deficit. The campaign issued what they call an analysis in response to an actual independent analysis by the nonpartisan Colorado Health Institute showing ColoradoCare would operate in the red from the first year on. Their press conference and “analysis” comes after a large number of liberal leaders came out fiercely against the proposal calling it financially unsustainable and harmful especially to women. According to the Denver Business Journal, “those non-endorsements and the skepticism around the price tag for the proposal stemmed largely from a report released early this month by the nonpartisan Colorado Health Institute, which analyzed ColoradoCare and said the proposed $25 billion tax hike to fund it would fall short of costs by $253 million in its first year of implementation — and then grow to an even larger deficit over the next nine years.” According to Peter Marcus with the Durango Herald, “Proponents acknowledge that there could be a deficit over the next decade, but they say the ‘worst case scenario’ would mean a projected deficit of $700 million; without any increase in the proposed tax rate.”

Advancing Colorado Executive Director Jonathan Lockwood released the following statement:

“The ColoradoCare campaign is saying to distrust an independent analysis of their projections and they are saying to instead trust their bogus report. The spokespeople for ColoradoCare continue to peddle financial fiction in an effort to deflect, divide and disinform voters. And, even in their self-produced ‘analysis’ they cannot escape the truth that tripling taxes on Coloradans will not be enough for them to operate soundly.

“At the debate last weekend they did the same thing and claimed that Secretary of State Wayne Williams affirmed their projections as sound, which is not true, and they couldn’t really answer why then they threatened to file a lawsuit against the secretary of state’s office over the ballot language. Even in their own lies they reveal the truth if one peers deeply enough. This entire campaign is a total outrage and a deception against the state.

“I also find it ridiculous that a ColoradoCare spokesperson whips around in Audi with a customized ‘SNGLPYR’ license plate while he proselytizes Coloradans to triple taxes on the poor. Another spokesperson for ColoradoCare is an IT moneymaker who stands to cash out big time if this thing passes. They are looking at their political dreams coming true and in the process of manifesting their political trophies they are going to bankrupt the state, hurt women, destroy jobs and cost people their lives.”

The ColoradoCare campaign projects their so-called health care system could go until 2028 before expenses outweigh revenue. By that time ColoradoCare would be sitting on a nearly $16 billion surplus accrued in previous years.

“ColoradoCare, Amendment 69, will operate in the black,” former state Sen. Jeanne Nicholson, D-Black Hawk, a supporter of the measure, claimed at a Tuesday news conference. According to the Denver Business Journal she also claimed:

“That 25 billion-dollar tax increase is a cost savings … because we are replacing the way we pay for health care now. We will replace those costly health-insurance premiums with a much more modest cost for our citizens.”

“We are confident in our financial analysis of Amendment 69 and the conclusions we have drawn from it,” said Michele Lueck, CHI president and CEO, after the press conference. “Our findings our sound. We have identified a structural gap in the financing of ColoradoCare. Simply put, revenue will not cover expenses.”

The Colorado Health Institute’s analysis criticizing the ColoradoCare “model” can be read in full here.

Below is a photo of the SNGLPYR license plate of an Audi driven by a ColoradoCare spokesperson who many voters at a public forum said seems out-of-touch with the poor for whom he advocates tripling taxes: