One of the bigs in health insurance will stay another year in Colorado
The Colorado Division of Insurance announced Wednesday that Anthem Blue Cross and Blue Shield of Colorado has committed to serving the individual insurance market statewide for 2018. That includes the 14 hard-pressed counties where Anthem is the only option available through the state’s health-insurance exchange, which offers eligible plan members tax credits to defray the soaring cost of individual plans.
With rates continuing to climb in the individual market throughout the state, and Obamacare still on the bubble in Congress, Wednesday’s news should ease some jitters for now. Especially for those, such as the self-employed, who rely on individual plans for themselves and their families because they aren’t part of an employer-based health plan.
From the insurance division’s press release making the announcement:
“The fact that we didn’t lose any on-exchange carriers for the coming year speaks to our efforts,” said Insurance Commissioner Marguerite Salazar. “In this sea of turmoil stirred up by the federal government, Colorado has created an island of certainty. Our willingness to keep the lines of communication open and work with carriers like Anthem, Cigna and Kaiser highlights the fact that Colorado is a good place for these companies to operate. We are especially pleased that Anthem will continue to serve residents in the 14 counties that would have had no other options. All of the carriers in the individual market have helped us to secure a stable market for 2018.”
But Salazar tempered the good news with a cautionary note – an acknowledgement, actually, of the volatility of the state’s insurance market:
“…while many breathe a sigh of relief, I recognize that the coming year will remain challenging for others in Colorado, with premiums increasing, healthcare costs rising, and uncertainty continuing around the Cost Sharing Reduction payments” …
In total, the carriers that will offer individual plans through the state’s exchange are:
Bright Health Insurance
Cigna Health and Life Insurance
Colorado Choice Health Plans
Denver Health Medical Plan
Kaiser Foundation Health Plan of Colorado
Rocky Mountain Health Maintenance Organization