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Capitol Coverage: Public Weighs in on High Insurance Rates

Posted: October 20, 2017 at 8:48 am by , in Capitol Coverage, Featured

State figures show the average health insurance premium will go up by 34 percent next year for the individual market. And that brought citizens to the state capitol on Thursday to hear from Health insurance executives. Bente Birkeland has more.

There will also be fewer providers in Colorado, and in 14 counties people purchasing health insurance on the individual market will only have one option. Bob Collins of Thornton owns a small business. He says his family’s premiums will increase 40 percent and he’ll be paying 18 thousand dollars next year just in premiums.

 

“My wife and I would dump it in a heartbeat if we didn’t have kids. The overall value for insurance, is just, it’s not there.”

Insurance companies say a pool with sicker people, medical costs going up and President Trump’s executive order repealing cost sharing payments to insurers all contributed to the rate hike. State lawmakers in both parties are working on proposals ahead of the next legislative session – including an insurance plan for insurers to drive down premium rates. I’m BB at the state capitol.