Colorado Health Insurance Premiums To Increase

The Colorado Division of Insurance announced that those shopping for health insurance on the private market in Colorado next year, may pay an average of 27% more for their premiums. Health insurance providers requested the increase to help cover the growing cost of providing insurance on the state’s insurance exchange, however, the increases still have to be approved by the Division of Insurance.  Businesses that purchase small market plans for their employees will also see premiums increased next year of around 8%. According to Colorado Insurance Commissioner Marguerite Salazar, the increases are at least partially due to uncertainties in the federal government concerning the Affordable Care Act or Obama Care. Salazar says the Trump administration needs to stop using people’s access to health care as a, what she calls a bargaining chip and instead commit to funding Obama Care for 2018. Republicans like Senator Cory Gardener disagree with her assessment however, blaming market uncertainties created by Obama Care for the rate increases.

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