The Office of Saving People Money on Health Care (OSPMHC) released a new report highlighting the need for a holistic focus on health care affordability. The report illustrates the critical importance of addressing out-of-pocket expenses for consumers, which can cause significant financial and emotional distress especially for those living with chronic diseases.
Financial and emotional stress is common for those with chronic illnesses and has profoundly negative consequences for the health and wellbeing of people. The OSPMHC engaged a diverse coalition of partners to design a community-informed research approach in order to hear directly from Coloradans about the stresses that accumulate as a result of seeking care for chronic illnesses and their experiences with associated financial, mental, and physical health challenges.
The OSPMHC was established in 2019 via Executive Order B 2019 003 with the aim to expand affordable and equitable access to quality care for all Coloradans.
The report found people with chronic conditions and their caregivers have higher health care costs and indirect costs associated with managing chronic disease, leading to a higher likelihood of experiencing extreme financial and emotional stress related to health care costs. About 60% of Americans and 61.5% of Coloradans live with at least one chronic condition, putting many of our community members at risk for experiencing high costs.
- Report from Office of Saving People Money on Health Care. October 2021