Are you still experiencing sticker shock from your 2016 individual health insurance premiums? Well, hold on to your hats because Individual health insurance premiums will be increasing significantly for Colorado residents in 2017. The average increase for Colorado residents who buy their own health insurance will be about 20% for next year. Not only that, but in some areas, residents may have only one carrier to choose from. Two large carriers will not be offering individual plans at all for 2017.
These are the largest increases since the ACA launched in Colorado in 2014. While tax credits may help those who are eligible reduce those premiums, other consumers will be seeing hefty increases.
On the other hand, rates for small group policies seem to be much more stable this year, with most carriers planning for modest rate increases in the single digit range, and at least one carrier lowering rates this year.
If you’re a small business owner or entrepreneur, there may be a silver lining for you. If you left behind your group plan, hoping to save money with individual coverage, you may again qualify for small group health insurance. This may be true even if you’re only a group of one or a husband-wife group.
Changes to the structure of group health insurance for next year mean that once again micro groups may qualify for group coverage. If you’re already reeling from the prospect of a 20-percent or more increase in your health insurance premiums for next year, and want to find out if you qualify as a small group for 2017, give our account managers at Roper Insurance a call today. We are committed to being as current as possible on changes in health insurance and we can help you find the right policy at the best price.
Don’t wait until the last minute. Call Roper Insurance today at 303-721-1145 or use this convenient form to contact us now.