Colorado Democrats preview public health insurance option

DENVER (AP) - Colorado Democratic lawmakers are introducing highly anticipated legislation to create a state public health insurance option.

It's designed to drive down prices by making the insurance market more competitive and setting prices charged by hospitals in the individual insurance market.

The measure previewed Thursday calls for an option that’s offered by private insurers under state supervision.

It would set prices that hospitals and drugmakers can charge people who choose to buy plans under the option. Initially, it would affect roughly 300,000 Colorado residents on the individual market.

Washington became the only U.S. state to adopt a public option last year.