More Than 24,000 People Have Signed Up For Health Coverage On Colorado’s Exchange, And Premiums Are Down

November 20, 2019
AP

Almost 24,000 Colorado residents have signed up for insurance so far on the individual market through the state's health marketplace. That figure is down a bit from the same period (Nov. 1 through Nov. 15) last year, but more than the two years before that.

Officials with the exchange said premiums for enrollees, after accounting for the income-based subsidies they receive, declined an average of 15 percent statewide.

The drops were even higher in parts of the state outside the greater Denver area.

The exchange reported that average premiums after people got their subsidies were down 56 percent in Grand Junction and Mesa County, 36 percent in Pueblo and 24 percent in Greeley and Weld County.

Elsewhere the drops were more modest: 7 percent in Fort Collins, 6 percent in Denver and Colorado Springs and 3 percent in Boulder.

The exchange says the decreases are mostly due to a new state reinsurance program that helps insurers cover their most expensive claims.

 Open enrollment started November 1st and runs through January 15th.

 The CEO of the exchange urged customers shop around for a plan that works for them.

“With less than a month until the deadline for January coverage, we continue to remind customers to take the time to shop in order to find the best value,” said Connect for Health Colorado CEO Kevin Patterson.

In 2018, the exchange had 25,614 medical plan submissions for the first two weeks of November.  In 2017, 22,650 customers signed up for health plans, and in 2016 the number was 16,987 over the same period.