October 2nd, 2014 – Last week the Colorado Division of Insurance approved the 2015 health insurance rates. Twenty health insurance carriers will offer 1,072 plans in Colorado’s individual and small group markets next year.
On average, individual plans are only increasing 0.71% and small group plans are increasing 2.54%. Of course, these are averages, and rates can vary by age and geographic area.
The Division of Insurance realigned the geographic rating areas in the state, consolidating the higher health cost regions into larger rating areas, reducing the number of rating areas from eleven to nine.
“This past year, the premiums in the mountain areas of Colorado have been a concern for many,” said Commissioner Salazar. “We are encouraged to see carriers such as Anthem and Colorado Health-Op working with healthcare providers in the mountain areas to develop more affordable insurance options for 2015.”
“We are pleased to see that our health insurance market is so competitive, especially compared to the other states that have released their 2015 rate information,” said Colorado Insurance Commissioner Marguerite Salazar. “With so many options, people in Colorado will need to spend time shopping to find the plan that best fits their needs, as well as consider that it’s not just about what you pay, it’s about what you get for your money.”
Rates are scheduled to be previewed on November 9th and Open Enrollment begins on November 15th and runs through February, 2015.
Colorado Health Insurance Brokers are certified producers of Connect for Health Colorado and work with every major health insurance carrier in Colorado, both through the state based exchange and outside the exchange. Sign up for a free review of the 2015 health insurance plans today. It’s completely free and there is absolutely no extra cost or mark-up.