To Our Valued Stakeholders,
With the season’s first snow also came a big week for us. Yesterday, Governor Polis and the Colorado Division of Insurance released the offerings for 2020 health insurance plans.
I’m pleased there is a lot of good news to share with this year’s rates, as the average individual health insurance premium next year will be 20.2 percent lower, likely due to the reinsurance program. That number reflects the savings our customers would see before the financial help available is applied, of which 77 percent of current customers qualify.
As we dig into the details to learn what Coloradans will pay this year for insurance on the Marketplace, we’re also seeing the need for customers to shop for a new plan in order to lower their premiums in 2020. Shopping may even help customers enroll in a plan with more rich coverage. For some, costs for Gold plan premiums will be comparable to Silver plan premiums after the financial help is applied. Others may find a Bronze plan with very low or even $0 premium.
And another piece of this year’s puzzle is that while premiums are going down, the average financial help amount for enrollees who qualify will decrease as well. That’s why ensuring that our customers review plans for their needs will be important. Read more in our press release.
Plans will be available for our customers to start reviewing in our Quick Cost and Plan Finder tool shortly, and Open Enrollment begins Nov. 1.
No matter how people prefer to shop, we know our partnering assisters and brokers will be ready to help customers get the information they need to feel confident about their health insurance choice this Open Enrollment period. Thank you in advance for your help getting Coloradans ready to enroll.
Our State’s Version of a Public Option
The Colorado Sun does a nice job diving into the details of the Proposal for Affordable Health Coverage Option (HB 19-1004) Draft Report. I also issued a statement, since the State is proposing to offer these new options through Connect for Health Colorado.
In the News
Patterson, MURP, MPA
Chief Executive Officer
Connect for Health Colorado