To Our Valued Stakeholders,
We released our report, By the Numbers, this week sharing data from the recent Open Enrollment Period.
Overall, medical plan selections increased by 3 percent over the previous Open Enrollment Period. We saw a 7 percentage point increase in the number of our customers who qualified for financial help, which means that 76 percent of the families and individuals who chose health insurance through the Marketplace qualified to receive help to reduce their monthly premium.
I’m pleased to report that the average net premium for customers receiving financial help is $117 per month, down from $136 per month last year. That’s a 14 percent decrease in net premium from last year.
County by county numbers are shown in interactive maps on page 12 of the report.
While we know there is a lot of work still to do to make health insurance affordable for every Coloradan, I am encouraged with this progress.
This report officially wraps up our work on the sixth Open Enrollment Period. As you know, we continue to enroll thousands of Coloradans who need a special enrollment period because of a qualifying life change event. Thanks for all you do throughout the year to help these customers.
In the News
The Division of Insurance released a study about House Bill 19-1168, also known as the reinsurance bill. The study, completed by the actuarial firm Lewis & Ellis, notes that the reinsurance program will reduce individual premiums by 23 percent. Read more in the DOI press release.
As you may remember from one of my recent updates, Connect for Health Colorado has voiced support for this bill. If enacted, the reinsurance program will provide significant relief on health insurance premiums in the individual market – on and off the Marketplace — particularly in rural areas.
Kevin Patterson, MURP, MPA
Chief Executive Officer
Connect for Health Colorado