1In 3-quart saucepan, heat oil over medium-high heat. Add onion, bell pepper, carrots and chili; cook 3 to 5 minutes, stirring occasionally until crisp-tender.
2Stir in remaining ingredients except cheese. Heat to boiling. Reduce heat to medium-low; simmer uncovered 10 to 15 minutes, stirring occasionally, until vegetables are tender. Sprinkle individual servings with cheese if desired.