Colorado Health Care Advocates Say New Policies Are Keeping Insurance Rates Stable

Yesterday, Colorado’s Division of Insurance released finalized health insurance rates for 2022. Individual market premiums will increase 1.1% while small group (businesses with 2-100 employees) market premiums will increase 4.4%.

In a press release, Colorado Consumer Health Initiative (CCHI), a health care advocacy group, expressed relief and cautious optimism over the rate increases. According to CCHI deputy director Adam Fox, the announced rate increases show consumers will see largely stabilized health insurance rates moving forward.

“The combination of stabilized health insurance rates and the increased financial assistance through the American Rescue Plan means many Coloradans will be able to find better deals than they have before on their insurance coverage this year,” Fox said. “With the uncertainty of the pandemic, the general stability of individual market health insurance rates is a good thing for Coloradans.”

Fox praised the health care policies in Colorado for keeping rates relatively stable and for increasing access across the state.

Read more: https://coloradotimesrecorder.com/2021/10/health-care-advocates-policies-keeping-insurance-rates-stable/40501/