Colorado Option plans were created by the Colorado Option law. The law requires all health insurance companies in the state to offer these standardized health plans at the Bronze, Silver, and Gold coverage levels.

Colorado Option plans are designed to provide more cost/benefit transparency and have lower costs for many services. The benefits, copayments, deductibles and out-of-pocket maximum costs are the same for all Colorado Option plans within a specific metal tier (Bronze, Silver, or Gold) across all health insurance companies.