reinsurance program

Coloradans on both sides of the political aisle are celebrating the approval of a new reinsurance program that is expected to dramatically reduce health insurance premiums for some residents.

"By bringing down rates, we'll make a dent in the number of uninsured, and today we're really seeing the hard work we did this legislative session is coming to fruition," Gov. Jared Polis said last month.

Reinsurance is often described as insurance for insurance companies.