People shopping for individual health insurance plans in Colorado can expect to pay an average of 20.2 percent less on premiums next year, Gov. Jared Polis announced Oct. 10. That change exceeds the 18.2 percent decrease predicted in July.
In the Colorado Springs area, premiums on individual plans will decrease by an average of 17.6 percent.
The reductions come after the federal government officially OK’d Colorado’s “reinsurance program” — a state enterprise that covers a portion of high-cost claims so that private insurance carriers can lower premiums.
Meanwhile, the state’s Division of Insurance and Department of Health Care Policy and Financing released a draft proposal for a “public option,” or government-backed insurance plan to compete with private insurance plans.
According to the proposal, the plan would save Coloradans an average of 9 to 18 percent on individual premiums.
Visit colorado.gov/hcpf/proposal-affordable-health-coverage-option to view the proposal and submit comments.