Polis administration announces reinsurance program for 2022

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(AP Photo/Alex Brandon, File)

DENVER- In 2022, all Coloradans will save on average 24.1% on individual premiums, Governor Polis and Lt. Governor Dianne Primavera has announced. The administration released the final, approved health insurance plans and premium information for 2022 individual plans and small group plans.

Governor Polis made the announcement while on his “Powering the Comeback Tour”, after making a major announcement with Colorado Parks And Wildlife announcement in Garfield County, speaking with the leadership of Summit County’s successful SMART Co-Responder Program.

The Polis administration has expanded access to mental health services for all, convening the Behavioral Health Task Force in April of 2019.

For 2022, the reinsurance program will save people across the state an average of 24.1% over what the premiums would have been without the program. This average increases to 36.5% savings in Summit County, the high country where the announcement was made and 36% in the Grand Junction area. 

“We are so proud to be in Summit County announcing our bipartisan reinsurance program will save families and individuals even more money on their health insurance next year while delivering quality care,” said Governor Jared Polis. “Coloradans in rural, suburban, and urban communities are tired of paying too much for health care and our reinsurance program delivers real relief and real savings for small businesses and people who don’t get their insurance through their employer.” 

Individual Health Insurance Plans

Coloradans buying individual plans in 2022 will see a modest average increase of only 1.1% compared to 2021 premiums. The number of individual plans available across the state increased significantly to 527, from 326 plans in 2021. To find county-specific information, click here.

The following same eight companies from 2021 will offer plans for 2022: Anthem, Bright Health, Cigna Health, Denver Health, Friday Health, Kaiser, Rocky Mountain Health Plans and Oscar Insurance Company. In the individual market, Bright Health, Friday Health, Oscar and Rocky Mountain HMO are all adding more counties where they will sell plans. Only Jackson County, with a single on-exchange insurance company selling plans, is down from 10 counties in 2021, and 22 counties in 2020. The Denver Metro area, Anthem and Oscar have added UC Health and its hospitals to their provider networks.

Choosing your health plan for 2022

Open enrollment for individual plans will start Monday, Nov. 1, and run until Saturday, Jan. 15, 2022. While the overall average premium impact is a 1.1% increase over 2021 plans, those researching 2022 plans should remember that that is an average – premium changes could be higher or lower depending on the plan.

Many will qualify for financial assistance that can make their plans more affordable, and assistance is only available when enrolling through our state’s exchange, Connect for Health Colorado. Contact Connect at 855-752-6749 or find in-person assistance through their statewide network of certified experts at connectforhealthco.com/we-can-help. On top of that assistance, Connect for Health offers tools such as their Quick Cost & Plan Finder that can help check eligibility for financial assistance while finding plans that fit consumers’ needs. 

New for 2022, some residents may qualify for additional financial assistance. People with incomes between 1.5x and 2x the Federal Poverty Level, meaning an annual income between $19,320 and $25,760 for a household of one, or between $39,750 and $53,000 for a family of four, will be able to get help to lower costs when receiving care, such as co-pays, coinsurance and deductibles.

The additional support is offered through Colorado’s Health Insurance Affordability Enterprise, created with the passage of Senate Bill 20-215, and is expected to help over 50,000 existing and new enrollees in individual insurance. People can take advantage of this opportunity by enrolling for 2022 coverage through Connect for Health Colorado and choosing a silver-level plan. 

Small Group Health Insurance Plans

In the Small Group Market (2-100 employees), the overall average change in premiums will be a 4.4% increase over the 2021 premiums. This is a slight reduction from the 5.3% indicated in the preliminary information in July. Twelve companies will offer 553 small group health insurance plans to Colorado’s small businesses, also a significant increase over the 429 plans available in 2021. 

To learn more, visit the DOI website for filed and approved plans.

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