Coloradans could save billions in healthcare costs if the state went to a universal healthcare system.

But a new independent analysis from the nonpartisan nonprofit Colorado Health Institute says over time, such a system could face severe budget shortfalls.

The proposed constitutional amendment, known as Colorado Care, would save money by cutting administrative costs and reducing insurer profits by $3 billion during the program's first year.

But the CHI President and CEO Michelle Lueck says in 10 years, expenses would outstrip revenue by about $8 billion.

“We think it can’t be sustained over time simply because expenses will exceed revenue," Lueck said.

Backers of the universal health plan applauded the first part, but strongly disagreed regarding potential shortfalls.

ColoradoCareYes says the analysis underestimates the program's ability to control rising health care costs.

Critics of the proposal say the new analysis shows it would be "financially unsustainable."

Voters will decide whether the state should go with a universal healthcare system in November.