Health Insurance Fees Raised

Health-Insurance-Rates-294The board of directors of Colorado’s health insurance exchange has raised fees that will be passed on to consumers. The increase approved Thursday to 3.5 percent from 1.4 percent of premiums means a family of four paying monthly premiums of $1,000, for example, would see its assessment more than double from $14 a month to $35. The board also increased a flat monthly fee charged on all private policies sold in the state from $1.25 to $1.80. With about 1.2 million policies in play, that’s a 44 percent increase in revenue from that source, to $2.16 million. The exchange uses its revenues to cover the costs of the technological and other infrastructure needed to allow consumers to comparison shop for insurance and get advice and access to financial aid.

Comments are closed.