Division of Insurance approves health insurance premiums for 2018
By benefitlink92293438, Sep 6 2017 08:10PM
The Colorado Division of Insurance (DOI) just released their announcement for premium increases for the small group and individual health insurance plans. As we know, the individual market is the most turbulant. The average across all insurance companies and all counties is 26.7%. Anthem, Cigna and Colorado Choice are all close to 30%. Kaiser is coming in at 24%. Rocky Mountain is the lowest at 11%, but they are a very limited service area provider.
Small group fared much better. Average is 6.6%, but the spread is much larger in this market. Colorado Choice is the highest at 28%, Kaiser is the lowest at 3% and 6%. Anthem is 12.9% to 18%. Humana is coming in around 8% and United Healthcare is .5% to 6.9%.
According to the DOI there is only ONE CARRIER left in SHOP! SHOP is the small group platform available on the exchange, or Connect for Health Colorado. Another failure of ACA....
Hang on to your hat - it should be another interesting Open Enrollment season.
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