Division of Insurance releases preliminary 2018 health insurance information

Final approval expected in late September / early October

DENVER (July 14, 2017) – The Colorado Division of Insurance, part of the Department of Regulatory Agencies (DORA), today released the preliminary information for proposed health plans and premiums for 2018 for individuals and small groups. From this point until August 4, Colorado consumers can comment on these plans.

All Counties in Colorado
As the Division of Insurance noted in its June 21 news release, based on the plans filed, there is at least one insurance carrier planning to offer individual, on-exchange plans in every Colorado county. However, the insurance companies have indicated to the  Division that they may be forced to reevaluate their participation in the marketplace if the lack of clarity at the federal level continues.

“Because of what is happening at the federal level, there is still a great deal of uncertainty in the marketplace,” said Marguerite Salazar, Colorado’s Insurance Commissioner. “It remains pivotal that the Trump administration stops using people's access to healthcare as a bargaining chip and commits to funding the Cost-Sharing Reductions in 2018.”

One company from 2017 is not continuing into 2018. Golden Rule Insurance Company, a subsidiary of UnitedHealthcare, offered only off-exchange, individual plans in 2017.

Premium Increases
All of the insurance companies have requested premium increases for their plans in the individual market for 2018. For individual plans, the average premium request across all companies is 26.96 percent. In the small group market, the average premium request across all companies is smaller, 7.46 percent. These are averages across all of the plans a company is offering, across all areas of the state where a company offers plans, and for all ages. These do not represent how one person’s premium could change.

“Remember that these are only what the companies have requested and are not the final premiums,” noted Commissioner Salazar “The companies must justify their premiums to the Division of Insurance, and our staff will review those justifications over the summer.

“However, these premium increases are not a surprise,” she continued. “I believe that the dubious situation at the Federal level has contributed to the  premium increase requests we’ve seen from the companies.”

The Rate Review Process
The Division of Insurance will spend the summer reviewing these plans to make sure the requested premiums are neither too high nor too low, and ensuring that the plans comply with the Affordable Care Act (ACA) and state laws.

  • The Division of Insurance does not set insurance premiums, but will review what the companies submitted to determine if the requested increases or decreases are justified.
  • The Division of Insurance checks to make sure the premiums are sufficient for the company to continue to pay its members’ claims.
  • The Division of Insurance verifies whether the plans meet the metal tier coverage levels:  bronze (an average of 60 percent of medical expenses paid by the plan), silver (70 percent), gold (80 percent) and platinum (90 percent).  
  • The Division of Insurance also reviews the benefits and the plans’ networks of healthcare providers to make sure that they meet state and federal requirements.   
  • The Division will release the final approved plans and premiums for 2018 in late summer / early fall, along with summary information and analysis.

Preliminary Number of Plans and Carriers / Requested Premium Changes
The information below on the number of plans and carriers and the requested premium changes for 2018 is preliminary. The information only reflects what the carriers have requested, not the final approved plans for 2018. Any requested premium has to be justified by the insurance carrier.

Number of Individual & Small Group Plans for 2018
 

  Individual Small Group Total
On-exchange 124 75 199
Off-exchange 131 471 602
Total 255 546 801

Number of Carriers On / Off-Exchange for 2018
In total, 17 insurance carriers plan to offer individual and small group plans in Colorado in 2018.

  Individual Small Group
On-exchange 7 1
Off-exchange 9 13

INDIVIDUAL Medical Plans, Average REQUESTED Premium Change, by Company
Average individual premium requests across all companies: 26.96%

Company Average Requested Change* SERFF Tracking Number**
Anthem (HMO Colorado) 30.2% AWLP-131075111
Anthem (Rocky Mtn. Hospital & Medical Service Inc.) 33.5%  

AWLP-131075069

Bright Health Insurance Company 15% BRHP -131071516
Cigna Health & Life Insurance 41.2% CCGH-131026399
Colorado Choice Health Plans 28.9% COHP-131084953
Denver Health Medical Plan, Inc. 12.7% DVHH-131084752
Freedom Life Insurance Company of America 27%  

USHG-131069079

Kaiser Foundation Health Plan of Colorado 24.4% KFHP-131050040
Rocky Mountain HMO 12.1%

LEIF-131074217
 

* Averaged over all individual plans continuing from 2017 into 2018 that a company proposes to sell, in all areas of Colorado where the company does business, for all ages.
** The SERFF Tracking Number is way to search for the filing on the Division of Insurance’s system.
The Division believes that National Foundation Life Insurance Company will also be in the marketplace in 2018. However, the company did not file for a rate increase.

SMALL GROUP Medical Plans, Average REQUESTED Premium Change, by Company
Average small group premium requests across all companies: 7.46%

Company Average Requested Change* SERFF Tracking Number **
Aetna Health Inc. New Plans for 2018 AETN-131042366
Aetna Life Insurance Company New Plans for 2018 AETN-131042302
Anthem (HMO Colorado) 18.1% AWLP-131075085
Anthem (Rocky Mtn. Hospital & Medical Service Inc.) 12.9% AWLP-131075058
Colorado Choice Health Plans 27.3% COHP-131084853
Humana Health Plan Inc.  8.2% HUMA-131065459
Humana Insurance Company 8.3% HUMA-131065460
Kaiser Foundation Health Plan of Colorado 3.2% KFHP-131050146
Kaiser Permanente Insurance Company 6.4% KFHP-131050242
Rocky Mountain Health Care Options, Inc. 25.9% LEIF-131074234
Rocky Mountain HMO -1.7% LEIF-131074196
UnitedHealthcare Insurance Company 3.8% UHLC-131066987
UnitedHealthcare of Colorado, Inc. 6.9% UHLC-131067007

* Averaged over all small group plans continuing from 2017 into 2018 that a company proposes to sell, in all areas of Colorado where the company does business, for all ages.
** The SERFF Tracking Number is way to search for the filing on the Division of Insurance’s system.

View Plans  / Submit Comments
The plans and requested premiums from the insurance companies, also called filings, are available on the Division’s “Health Insurance Filings” web page (click “Search Health Insurance Plan Filings” on that page). Note that these are very technical documents, so be prepared to spend some time on this process. The Division is developing a step-by-step video guide to help you navigate to the filings that interest you, to demonstrate how to find particular information in those filings, and to show you how you can submit comments. This guide will be available soon.

After the Division releases the final, approved plans and premiums for 2018 in late summer / early fall, it will host a public forum to discuss health insurance for the coming year. The date and location for this forum will be determined later this summer.

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The Colorado Division of Insurance (DOI), part of the Department of Regulatory Agencies (DORA) regulates the insurance industry and assists consumers and other stakeholders with insurance issues.  Visit dora.colorado.gov/insurance for more information or call 303-894-7499 / toll free 800-930-3745

DORA is dedicated to preserving the integrity of the marketplace and is committed to promoting a fair and competitive business environment in Colorado. Consumer protection is our mission. Visit dora.colorado.gov for more information or call 303-894-7855 / toll free 1-800-886-7675

 


Media Contact:
Vincent Plymell
Division of Insurance
p: 303-894-2261 | c: 303-910-9614