Colorado health insurance cost on individual market to rise 1%

The monthly cost of health insurance on Colorado’s individual marketplace will rise about 1.1% next…

The monthly cost of health insurance on Colorado’s individual marketplace will rise about 1.1% next year, after the effects of the state’s backstop program for insurers.

Premiums on the small group market, for employers with fewer than 100 workers, will rise about 4.4%. The numbers are averages, however, so some people could see a smaller or larger change in their monthly bill.

The state estimated monthly premiums on the individual market would have been about 24% higher without reinsurance. Essentially, the federal government allows the state to create a fund that pays some of the cost of care for more-expensive customers. That lowers the cost of insurance, meaning customers pay less each month, and the federal government saves on tax credits to people who qualify for help buying coverage.