The monthly cost of insurance bought through the exchange in Colorado will drop an average of 1.4% next year, according to filings with the Colorado Division of Insurance.
Your costs depend on where you live, though. Some counties on the Eastern Plains will see 12% increases in their monthly premiums, while Park County residents could pay 12% less, on average.
In Denver, the average premium will drop 1.2%, though surrounding counties will see bigger decreases. The average can conceal significant differences among companies, however, and customers have to consider the trade-off between higher premiums and higher out-of-pocket costs when they need care.
State officials estimated premiums will be about 20.8% lower than they would have been without reinsurance. The reinsurance program acts as a backstop for insurers, so they’re reimbursed some of the cost of covering customers with higher medical bills. It’s not clear what will happen to that program