Colorado has many affordable health insurance options. You can review options online at the Connect for Health Colorado website and select the right plan for your needs. Special enrollment has been extended to August 15 as part of federal COVID-19 relief efforts, so it is a good time to enroll. You may still qualify for a special enrollment period to enroll any time after August 15th, 2021, if you have had a qualifying life event.
Highlights and Updates
- Connect for Health Colorado is Colorado’s state-run marketplace
- Special enrollment in Colorado is from November 1 – January 15, although currently it has been extended to at least August 15 due to COVID-19 relief efforts
- Colorado does not offer short-term health insurance plans
- The average monthly benchmark premium cost in Colorado is $351, well under the national average of $452 per month
- Average health insurance costs have decreased across all tiers since 2019
- There are eight health insurers offering coverage through the exchange in Colorado – Anthem (HMO Colorado), Bright, Cigna, Denver Health, Friday Health Plan, Kaiser Permanente, Oscar, and the Rocky Mountain Health Plan
How to buy Health Insurance in Colorado
There are several ways to buy health insurance in Colorado. Plans are available through an employer, private health insurers, or public programs. The state-run marketplace is called Connect for Health Colorado and has eight health insurance companies offering policies. These eight insurance companies offer a total of almost 160 individual and family health plans to choose from – there is no reason to be uninsured in Colorado.
Insurance is divided into three tiers – Bronze, Silver, and Gold, with premiums fluctuating between the tiers. Premium costs for all three tiers have shown a decrease in 2020 and 2021. Short-term health insurance is not available to be purchased in Colorado. Medicaid is available through the federal government for low-income individuals who qualify.
How to Apply for Health Insurance in Colorado
It is a simple process to apply for health insurance in Colorado – go to the Connect for Health Colorado website, enter your details, and search for plans. In 2022, Colorado plans to introduce an “Easy Enrollment” program that will use tax returns to determine if residents are eligible for subsidized health insurance.
Health Insurance Carriers in Colorado
Colorado has eight health insurance carriers:
- Anthem (HMO Colorado)
- Denver Health
- Friday Health Plan
- Kaiser Permanente
- Rocky Mountain Health Plan
What are the Cheapest Health Insurance Companies in Colorado?
Colorado has many competitively-priced options for health insurance, and shopping around should help you find a great deal. Anthem seems to have the cheapest options in the Bronze and Silver tiers, and Kaiser has cheap options in the Gold tier. Rates have been on a downward trend since 2019.
How has Obamacare Helped Colorado’s Uninsured?
Colorado has been a well-known leader in healthcare initiatives over the years, even before the ACA was introduced. Since 2013, the uninsured rate has dropped to 7.5% of Coloradans.
Colorado Health Insurance Costs Overview
Colorado offers three tiers of health insurance – Bronze, Silver, and Gold.
How Much Does Health Insurance Cost in Colorado?
The average benchmark monthly health insurance premium for a 40-year old is $351 in Colorado. Rates across all metal tiers have decreased over the last couple of years.
What is the Cheapest Health Insurance Plan in Colorado?
The cheapest health insurance plan in Colorado is Anthem Bronze Pathway X HMO 8150, with a premium of $262, an $8,150 deductible, and an $8,150 out-of-pocket max.
Cheapest Colorado Health Insurance Coverage by Metal Tier
Kaiser Permanente Select CO Gold 1750/20 is the most affordable Gold plan. The premium is $378 per month. The deductible is $1,750, and the out-of-pocket maximum is $7,800.
Anthem Silver Pathway X HMO 5500 is the lowest cost Silver plan, with a premium cost of $329 per month. The deductible is $5,500, and the out-of-pocket maximum is $7,000.
The most affordable Bronze plan is Anthe, Bronze Pathway X HMO 8150, with monthly premiums of $262, an $8,150 deductible, and an $8,150 out-of-pocket maximum.
Colorado Health Insurance Costs by Occupation
What is the Average Cost of Health Insurance for a Student in Colorado?
Students attending school in Colorado may elect to stay on their parent’s health insurance until the age of 26, or they can take out a student health plan or purchase an individual plan on the exchange. They may also be able to get health insurance through their school plan.
What is the Average Cost of Health Insurance for the Self-Employed In Colorado?
Self-employed individuals can sign up for coverage on the federal marketplace.
What Is the Average Cost of Health Insurance for Small Business Owners in Colorado?
Colorado allows small business owners (those with up to 50 employees) to purchase insurance through Connect for Health Colorado Marketplace, just like individuals. Employers with fewer than 25 employees may be eligible for helpful tax credits.
Colorado Health Insurance Costs by Number of Participants
What is the Average Cost of Health Insurance for Families in Colorado?
This depends on your specific circumstances and how many people are in your family. It is a best practice to shop around and compare rates. For example, a couple in Douglas County can expect to pay around $556 per month for Silver tier coverage, but a couple living in Jackson County may pay almost double the price at $1046 per month.
What is the Average Cost of Health Insurance for Individuals in Colorado?
The benchmark price for a 40-year-old individual in Colorado is $351. This monthly premium falls below the national average cost for health insurance in 2021, which is $452 per month.
What is the Average Cost of Health Insurance for a Child in Colorado?
Child Health Plan Plus is available for children at a low cost in Colorado. This program is for people who make too much to qualify for Health First Colorado.
Other Types of Colorado Health Insurance Coverage
Catastrophic Health Insurance in Colorado
Catastrophic health insurance plans are available in Colorado to individuals aged 18 to 29. For those over age 30, it is available for those who qualify for an exemption.
Short Term or Temporary Health Insurance in Colorado
Short-term health insurance is not available in Colorado. Colorado is one of 10 states that does not offer this. The rules around short-term plans changed in 2019 in Colorado, so insurers stopped offering these plans at that time. Short-term health plans often do not meet the requirements of the ACA so Colorado residents may want to pursue Bronze, Silver, or Gold coverage instead.
Low-Income Health Insurance in Colorado
Low-income Colorado residents can apply for First Health Colorado, which is Colorado’s Medicaid program.