Colorado health insurance rates will increase for many in 2023

Prices for people who buy health insurance on their own are set to increase next year in Colorado — but not quite by as much as initially proposed.

When insurers first filed rates with the state this summer, they requested an 11% increase in premium prices in the individual market, which is the category of the health insurance market that covers people who buy insurance without help from an employer. In finalized rates released Tuesday, that increase had dropped to 10.4%.

In the small group market, where small companies buy insurance for their employees, premium prices are set to increase

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Colorado insurance rates will be more expensive than Polis administration promised | Health Care

Colorado’s insurance premiums will increase by double digits in the individual pool and by a substantial amount in the small group market next year, rate changes the state released on Tuesday show, leading the trade association for health insurers to argue that the Polis administration “chose politics over math.”    

Coloradans face a 7.4% hike in the small group market, which insures companies of between two and 100 employees, and 10.4% in the individual market, which serves people who must pay for their own health insurance, in 2023. 

Despite the spike in insurance premiums, the Polis administration insisted that Coloradans will

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