Statement by Connect for Health Colorado’s Chief Executive Officer
DENVER— The Colorado Division of Insurance (DOI) announced final rate filings for approved 2023 health insurance plans, which show premium prices in the individual market (non-employer coverage) increasing an average of 10.4% statewide over 2022 premiums.
Because of the way financial help is calculated, residents who qualify for savings using Connect for Health Colorado’s marketplace can expect even more assistance to offset rising costs, resulting in modest increases ($20/month on average) to net premiums, and even net premium decreases for customers in the Western area of the state.
Additionally, with the passage of the American Rescue Plan Act in 2021 and the extension of financial assistance under the Inflation Reduction Act signed August 2022, even more Colorado residents are eligible for savings on Connect for Health Colorado.
Kevin Patterson, Chief Executive Officer of Connect for Health Colorado, released the following statement:
“Premium costs continue to be the most important factor for families when it comes to making decisions about coverage, including their ability to stay covered. That’s why I urge all our customers to take another look at plans and prices starting November 1. This year, shopping around can help you reduce your monthly payment even more, and you can find plenty of high-quality plans to choose from. Overall, I’m thankful that people can expect relative stability when it comes to health insurance prices for next year.”
Six companies are returning to offer plans for 2023: Anthem, Cigna, Denver Health, Friday Health Plans, Kaiser Permanente and Rocky Mountain Health Plans. Two companies, Oscar and Bright Health, are exiting Colorado’s market. Approximately 1 in 5 current Connect for Health Colorado enrollees will need to shop for a plan with a new insurance company this year.
The Open Enrollment Period for 2023 health coverage begins on November 1 and goes through January 15.
Monica Caballeros, [email protected], 720-576-7995
About Connect for Health Colorado
Connect for Health Colorado is a public, non-profit entity established by the Colorado General Assembly in 2011 to create a health insurance Marketplace. Since 2013, we’ve been helping individuals, families and small employers compare plans, apply for financial help and buy health insurance. As Colorado’s official health insurance marketplace, we are the only place to apply for financial help to lower the monthly cost of premiums. Customers can shop online; get help by phone or online chat from Customer Service Center representatives; and access expert help from a statewide network of certified Brokers and community-based Assisters. For more information: ConnectforHealthCO.com