Coloradans may see a 18.2% decrease in premiums in 2020

To Our Valued Stakeholders,

I hope you are staying cool through the heat of summer!

In case you missed it, there is some big news to share this week from the Division of Insurance and the governor’s office. It was an honor to join Gov. Polis to hear firsthand the exciting news of the projected decrease in premiums of 18.2 percent for Coloradans purchasing health insurance through our marketplace. These numbers are dependent on the reinsurance program moving forward, which still requires federal approval. A second set of rates filed indicates the state would see an increase of 0.5 percent if reinsurance is not approved. As a reminder, our organization and our board have voiced our support for the reinsurance bill.

The press release also notes that all seven health insurance companies are returning to the marketplace and that another, Oscar Health, is joining. All of this news is a very promising sign that the work being done in Colorado to help address affordability, access and choice for consumers is progressing.

I’ve also been making my way out west recently. It is rewarding to continue to have conversations with stakeholders in various parts of the state to help me continue to understand the needs around Coloardo. Last week, members of the Western and Rural Colorado Health Care Coalition and I met to discuss Western Slope healthcare reform. This week, I am visiting with assisters and brokers in Dover Creek, Cortez and Durango. I’m also eager to meet today with leaders of the Southern Ute Tribe, to renew our commitment to finding ways that we can work in partnership to address the healthcare needs of their members.

In the News

You may find it interesting that, according to the Kaiser Family Foundation, health insurers are generally profitable from numbers reported for the first part of the year.

Take care,

Kevin Patterson, MURP, MPA
Chief Executive Officer
Connect for Health Colorado