I debated how to word the headline for this blog post. On the one hand, the press release itself includes some important information and some genuinely good news re. cost savings for Colorado residents. On the other hand, I couldn't get past how hilariously misleading the headline itself is, so I decided to use the sublede instead.
Gov. Polis and DOI Announce 80% of Health Insurers to Decrease Premium Requests for 2024 and Increases Reinsurance Savings to $411M for Colorado Consumers
Nearly 20,000 more Coloradans could reduce deductibles to as low as $100.
DENVER - When it comes to health insurance, the Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies (DORA), makes sure that insurance companies are complying with the Affordable Care Act (ACA), as well as State law and our specific insurance regulations. Today, Governor Polis and the Division of Insurance announced 80% of health insurers will decrease premium requests for 2024.
The most noteworthy developments below are that in addition to Friday, Oscar and Bright Health Plans all leaving the Colorado market (as documented/reported on several times earlier this year), Aetna and Humana both appear to be dropping out of the states small group market.
In any event, the weighted average increase being requested is 9.2% on the individual market and 8.4% for the small group market.
OmniSalud program will provide $0 premium health plans to 11,000 qualified individuals.
DENVER - The Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies (DORA), is pleased to announce that for 2024, it will increase the availability of financial assistance for health insurance in the OmniSalud program to 11,000 individuals. This a 10 percent increase from 10,000 individuals in 2023.
OmniSalud allows Coloradans without documentation (including DACA recipients) and who are ineligible for federal subsidies for health insurance, to get health insurance that meets the requirements of the Affordable Care Act (ACA). Those who qualify can receive financial help, called SilverEnhanced Savings, to make that insurance more affordable. The OmniSalud program is offered through Colorado Connect, Connect for Health Colorado’s public benefit corporation and online enrollment platform.
There Are Just a Few Days Left for Friday Health Plans Customers to Avoid a Gap in Coverage
08/29/2023
Customers must enroll in a plan by this Thursday to have coverage that starts Sept. 1
DENVER— Friday Health Plans customers have less than three days to choose a new health insurance plan before their current health insurance coverage ends. Last month, the Colorado Division of Insurance announced that it had asked the courts to move Friday Health Plans into liquidation, ending coverage for all Friday Health Plans customers on August 31, 2023. Connect for Health Colorado, the state’s official health insurance marketplace, continues to urge Friday Health Plans customers to sign up for a new plan on or before this Thursday, August 31, to avoid a gap in coverage.
So far, about 46 percent of these customers have picked a new plan*
DENVER— Friday Health Plans customers have about two and half weeks* to choose a new health insurance plan before their current health insurance coverage ends. Connect for Health Colorado, the state’s official health insurance marketplace, is urging Friday Health Plans customers to sign up for a new plan before the end of the month to avoid a gap in coverage.
*Note that this press release was issued 9 days ago, so CO Friday enrollees actually only have 8 days left.
Back in late 2021, Colorado launched their own new, state-based ACA financial subsidies on top of federal subsidies which have already been enhanced (at least through the end of 2025) via the American Rescue Plan and Inflation Reduction Act:
The financial help you can get to lower your out-of-pocket costs are healthcare discounts called Cost-Sharing Reductions. Connect for Health Colorado is the only place you can apply for financial help to lower the cost of private health insurance. Due to the American Rescue Plan, Coloradans are now eligible for more savings than ever before.
Consider a Silver plan if your Health First Colorado (Medicaid) coverage recently ended or your income is over the limit to qualify
Connect for Health Colorado launched a new state-funded program recently to provide even more healthcare savings to people shopping on the Marketplace for 2022 whose income is just over the limit to receive Health First Colorado (Medicaid) and who enroll in a Silver-level plan.
The most noteworthy developments below are that in addition to Friday, Oscar and Bright Health Plans all leaving the Colorado market (as documented/reported on several times earlier this year), it looks like Anthem is reducing its offerings on the individual market, while Aetna and Humana both appear to be dropping out of the states small group market.
Update: Correction, apparently I misread that about Anthem; they have the same total number of plans available after all...not sure how I messed that up; apologies. Their Rocky Mountain division is offering off-exchange policies only, abut aren't listed on CO DARA's summary for whatever reason.
In any event, the weighted average increase being requested is 9.8% on the individual market and 10.6% for the small group market.
DENVER— Today, the Colorado Division of Insurance (DOI) announced that they have asked the courts to move Friday Health Plans of Colorado into liquidation, which will end coverage for Friday Health Plans customers on August 31, 2023.
Chief Executive Officer of Connect for Health Colorado, Kevin Patterson, released the following statement:
A few weeks ago, I reported that both Nevada and Oklahoma had placed insolvent insurance carrier Friday Health Plans under receivership, leaving just two states left to do so (North Carolina and Colorado, which happens to also be the home to Friday's corporate headquarters).
It turned out that I was correct about Oklahoma, but had jumped the gun slightly re. Nevada; the insurance commissioner had petitioned the court to put Friday into receivership, but hadn't actually done so yet.
Colorado’s Marketplace Offers Free Enrollment Help and Low-Cost Health Plans
DENVER— For the first time in more than three years, Coloradans who are no longer eligible for Health First Colorado (Colorado’s Medicaid program) or Child Health Plan Plus (CHP+) will start to lose their coverage.
Why Coloradans Might Lose Health First Colorado (Colorado’s Medicaid Program)
This change was the result of federal legislation passed in winter of 2022: the Omnibus bill, otherwise known as the Consolidated Appropriations Act. It included a provision to end the requirement for states to keep individuals covered by Medicaid during the COVID-19 Public Health Emergency.
The Department of Health Care Policy & Financing (HCPF) estimates that more than 325,000 current members will no longer be eligible for Health First Colorado coverage following their annual eligibility review. These eligibility reviews will be done in the anniversary month of when the person enrolled.
