Colorado Option plans were introduced because of the Standardized Health Benefit Plan Colorado Option (HB21-1232) law, which allowed the state to develop a standardized health insurance plan that private health insurance companies are required to offer in the individual and small group markets starting in 2023.
Colorado Option plans cover all essential health benefits required by the Affordable Care Act (ACA), provide free ($0) primary care and mental health visits, and have a specific set of lower, fixed costs across all companies, allowing for easier shopping.