Connect for Health Colorado plans to double in cost
Add Axios as your preferred source to
see more of our stories on Google.
The cost of health insurance plans purchased on the state's exchange will double in 2026, the Colorado Division of Insurance announced this week.
Why it matters: The price spike is likely to lead Coloradans to forego health insurance, increase uncompensated care for providers and boost prices for the entire marketplace.
What they're saying: "These premium increases are going to create impossible decisions for families across the state," Michael Conway, Colorado's insurance commissioner, said in a statement announcing the final prices for Connect for Health Colorado plans.
Driving the news: The final plan prices are set as Connect for Health Colorado prepares for open enrollment starting Nov. 1.
- The 101% increase in average premiums for exchange plans affects about 300,000 people on the exchange who don't receive insurance from employers or the government.
Between the lines: Two factors are driving Colorado's increase: A 23% jump in the cost of providing health care and the expected expiration of federal tax credits.
- An estimated 225,0000 people receive tax credits and 75,000 are anticipated to drop their coverage because they can't afford the increases in premiums.
By the numbers: A family of four with $128,000 in annual income will no longer qualify for the tax breaks and will see premiums increase by roughly $14,000 for a standard silver tier plan.
- The price hike is even greater for families living in rural areas, the division reports.
The big picture: The costs will increase pressure on Congress to resolve the government shutdown and renew pandemic-era tax credits.
- Democrats seek an extension of the federal enhanced premium tax credits (ePTCs) included in a bill to reopen the government, while Republicans want to debate the measure separately once a funding bill is approved to end the shutdown.