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State leaders say 80% of companies reduced their rate requests from earlier this year
DENVER — Health insurance premiums will rise again next year, but not as much as they could have, state leaders say.
Health insurers will charge between an average of 6.5% and 12.7% more for individual health plans on the state’s health insurance exchange next year, according to official rates released Monday by the Colorado Division of Insurance.
Denver Health Medical Plan Inc. will be an outlier in that category — those visiting the state exchange when open enrollment begins on Nov. 1 will see the carrier’s rates have risen an average of 19.6%.
Small group plan premiums will rise between 4.7% and 11.0%, excluding a 2.3% decrease in rates for Kaiser Permanente Insurance Company.
After health insurance companies submitted initial requests for rate increases earlier this year, 80% of those companies have since lowered their rates, according to the DOI. In the small group market, which is for employers with fewer than 100 people, 66% of insurance companies decreased their initial premium requests.
> Read the full story at the Denver Business Journal.
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