Denver- Connect for Health Colorado® Chief Executive Officer Kevin Patterson released the following statement in response to the Colorado Division of Insurance (DOI) announcing 2021 health insurance premiums for the Open Enrollment period that begins Nov. 1:
“I’m encouraged by the overall stability we’re seeing for next year’s health insurance plan prices. Colorado families continue to feel the economic impacts of the pandemic at a time when the risk of going without health coverage has never been greater. I urge Coloradans who are unsure about their options to connect with us this Open Enrollment period. We are here to help you sign up and save on monthly costs and care.”
The DOI announced that health insurance premiums in the individual market (non-employer coverage that includes Marketplace and off-Marketplace coverage) will decrease 1.4% on average over 2020 premiums. People shopping through the Marketplace may see changes to their health insurance plan price based on other factors, such as where they live and their ages. Those with fluctuating household incomes or who are concerned about price changes should compare plans and costs before renewing coverage, as they may find more affordable options. Shoppers should also consider health care costs beyond the premium, such as deductibles, co-payments, frequency of care needed, and providers and prescriptions covered. As a reminder, Connect for Health Colorado is the only place where Coloradans can qualify for financial help to lower the cost of private health insurance.
Insurance companies must submit the rates that they want to charge consumers, in addition to any insurance plan changes, to the DOI annually. Connect for Health Colorado receives the approved plan costs and benefits from the DOI.
About Connect for Health Colorado
Connect for Health Colorado is a public, nonprofit 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, in-person help from a statewide network of certified Brokers and community-based Assisters. For more information: ConnectforHealthCO.com.