1Pierce potatoes to allow steam to escape. Arrange potatoes about 1 inch apart in circle on microwavable paper towel in microwave oven. Microwave uncovered on High 10 to 12 minutes or until tender.
2While potatoes are cooking, heat water to boiling in 2-quart saucepan. Stir in vegetables; reduce heat to medium. Cover and simmer 3 to 7 minutes, stirring occasionally, until tender; drain.
3Stir milk into cheese until smooth. Stir cheese mixture into vegetables until melted. Cut crisscross gashes in tops of potatoes; squeeze gently to open. Spoon over baked potatoes. Sprinkle with bell pepper.