Governor Polis says Coloradans in the individual health insurance market will ave an average of 18.2 percent next year now that Colorado has won approval to begin a reinsurance program. The Governor says people will start to see the savings when they sign up for health insurance during the open enrollment period this Fall. Polis says families will save hundreds of dollars a month and can use the money to help pay rent or the mortgage or save money to send their kids to college.
The reinsurance program is for the seven to eight percent of Coloradans who do not get health insurance through their employer or a government program. The state can use federal money to pay a portion of higher cost claims thereby allowing insurance companies to reduce rates.
The Governor says reinsurance is a key part of his effort to save Coloradans money on health care.