Private health insurance premiums rose higher in Colorado this year than every state except one, a recent report shows.
By the numbers: The average monthly cost between 2022 and 2023 in Colorado for a 40-year-old with a mid-range silver plan soared 19.6% — from $409 to $489 — according to consumer research company ValuePenguin.
Between the lines: When you factor in all age groups and coverage types, the average rate hike in Colorado is closer to 10.4%, per the state Division of Insurance.
State of play: The uptick comes as the state begins ramping up its regulation of the market and offering a state insurance plan, called "Colorado Option."
Reality check: Some states have it much worse when it comes to dollars and cents. Wyoming, for example, will see the highest cost — with the same mid-level plan increasing 15% to $882 a month.
The big picture: Private health insurance premiums climbed in 36 states this year — but where you live heavily influences how much you pay, Axios' Tina Reed writes.
Get more local stories in your inbox with Axios Denver.
Support local journalism by becoming a member.
Learn more
No stories could be found
Get a free daily digest of the most important news in your backyard with Axios Denver.
Support local journalism by becoming a member.
Learn more
Copyright Axios Media, 2023