The individual market holds about 7.7 percent of insured residents, or 450,000 people. In light of exchange exits like UnitedHealthcare’s and Humana’s, as well as Rocky Mountain Health Plan’s pullback to only Mesa County, about one in five individual market consumers will be looking for health plans next year.
Colorado’s insurance department said it “reviews health insurance premiums to make sure they are neither too high nor too low, and makes sure that the plans meet state and federal regulations — it does not have the regulatory authority to set the insurance premiums.”
The following average rate changes for on-exchange, individual health plans were approved:
- Bright Health Insurance — no percentage listed
- Cigna — 9.5 percent increase
- Colorado Choice Health Plans — 42.9 percent increase
- Denver Health Medical Plan — 0.5 percent decrease
- HMO Colorado (Anthem) — 25.8 percent increase
- Kaiser Foundation Health Plan of Colorado — 18 percent increase
- Rocky Mountain Health Maintenance Organization — 34.9 percent increase
- Rocky Mountain Hospital and Medical Service (Anthem) — 20.6 percent increase
For small group plans, premiums are set, on average, to increase more than 2 percent. The highest increases include Rocky Mountain Health Maintenance Organization’s 16.1 percent and Rocky Mountain Health Care Option’s 10.2 percent.
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