80,655 Enroll in Colorado Option Plans for 2024, Polis Administration Continues Focus on Saving People Money on Health Care
Represents 34% of all open enrollment activity
DENVER - On January 18th, Connect for Health Colorado announced the enrollment figures from the open enrollment period for 2024 health insurance coverage. And a record number of people enrolled in Colorado Option plans again for 2024.
As of January 18, a record 80,655 people enrolled in Colorado Option plans through Connect for Health Colorado - 34% of all 2024 selections during open enrollment. That is an increase of 188% over the 2023 open enrollment. An additional 12,485 Coloradans enrolled through Colorado Connect, Connect for Health Colorado’s public benefit corporation and online platform. The majority of those Colorado Connect enrollments were from the OmniSalud program.
“We are thrilled that Colorado’s nation-leading Colorado Option is helping thousands of Coloradans save money on health insurance. Reducing health care costs has been a top priority since day one, and we continue working to save people money on healthcare,” said Governor Jared Polis.
Governor Polis and Lt. Governor Primavera have been focused on saving people money on health care and delivering real results for hardworking Coloradans.
“The reality is Coloradans chose the Colorado Option in record numbers for 2024, even while special interests continue to try to mislead Coloradans about the Colorado Option,” said Colorado Insurance Commissioner Michael Conway. “That means that once again, Coloradans are choosing the Colorado Option to save money and get a better health plan. In all 64 counties of the state, Colorado Option plans were the lowest or second-lowest cost silver level plan. In 57 counties, the Colorado Option was the cheapest silver level plan. In addition, the Colorado Option provides zero dollar coverage for primary care and behavioral health visits. So, it should come as no surprise that Coloradans are choosing to save money on health care by enrolling in the Colorado Option.”
Background on the Colorado Option and Pass-Through Funding The Colorado Option was enacted through HB21-1232, which was signed into law by Governor Polis in June 2021. The law was sponsored by Rep. Dylan Roberts, Rep. Iman Jodeh and Senator Kerry Donovan. This legislation tasked the Colorado Division of Insurance with developing the standard benefits for the Colorado Option plans that the health insurance companies sell. The Division created these standard benefits after a lengthy stakeholder process. Stakeholders said they wanted health insurance that made prices easier to understand, while reducing what people paid when getting medical care, especially for care that is of high value, like primary care and mental health, as well as prescriptions and labs.
Last year, the Colorado Division of Insurance (DOI) received $245 million in pass-through funding for the Colorado Reinsurance Program, and for the first time, the Colorado Option program. This was the largest amount of pass-through funding for Colorado, and was an acknowledgement from the federal government that both programs reduced health insurance premiums in Colorado. Specifically, the impact of the Colorado Option was to reduce the second-lowest cost silver plans throughout the state by an average of 4.7%.
Federal pass-through funding is the result of money saved by these programs - money the federal government does not have to spend on health insurance subsidies for the Affordable Care Act (ACA). Rather than the federal government keeping the savings, the savings are passed back to the State of Colorado and applied to programs to make health insurance more affordable and accessible.
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About the Division of Insurance:
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 doi.colorado.gov for more information or call 303-894-7499 / toll free 800-930-3745.
About DORA:
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 800-886-7675.
