Colorado Insurance Premiums To Increase 27%

Insurance premiums will climb by an average of 27% next year for Coloradans who buy health insurance on the states Obama Care insurance exchange. The state’s division of insurance announced that they approved the rates from nine different insurance companies for plans both on and off the state insurance exchange for 2018. The increases do not include federal subsidies that most individuals receive when they purchase insurance on the exchange. Commissioner Marguerite Salazar says uncertainty is to blame for the rate increases. Anthem, who is the only insurance provider for the majority of Northwest Colorado, received approval to increase their premiums by 30%. Congressman Scott Tipton responded to the news of the increases, by saying Congress must act to repeal and replace Obama Care, to provide relief to Americans who are dealing with the sky rocketing premiums. Senator Michael Bennet agreed that changes need to be made, but says he looks forward to working with the bi-partisan Health Education Labor and Pension committee, to come up with a solution to stabilize the Obama Care markets.

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