Coloradans can expect a major increase in healthcare premiums in 2018, largely thanks to the uncertainty over the future of healthcare from Congress. The Colorado Division of Insurance expects individual-market premiums to increase by 27 percent and small-group insurance costs to increase by 7.5 percent reports the Denver Business Journal.
Those numbers are averages based on projections, but all 17 of the insurers offering plans in 2018 included rate hikes for individual and small-group rates, with the greatest hike set at 41.2 percent for individual plans from one provider. Colorado Insurance Commissioner Marguerite Salazar said she was, “heartened,” that only one insurer pulled out of the state for 2018.
“2018 was supposed to be the year where we started to see a diminishing increase in rates,” said Salazar according to the Denver Business Journal. “I think the carriers are still trying to sort out who are their customers. I don’t think I can say it’s not a drastic increase, because it is.”
NFIB remains committed to reducing the cost of healthcare for small businesses.
“The high cost of healthcare has been the number-one problem for small business owners for 30 years,” said NFIB president and CEO Juanita Duggan.