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State grappling with funding insurance enterprise into the future, and solution could be premium fee hike
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State, The Sum & Substance

State grappling with funding insurance enterprise into the future, and solution could be premium fee hike

By Ed Sealover | The Sum & Substance A Colorado enterprise that offers free health insurance to undocumented immigrants and helps fund the state’s reinsurance program is likely to be short of revenue by 2027, spurring consideration of options that include raising fees on statewide health insurance policies. The Health Insurance Affordability Exchange board will meet at 8 a.m. Friday to discuss how to deal with the situation and how to grapple with the uncertainty around future federal funding. If it elects to pursue a fee increase, such an effort would have to go before the Legislature prior to the May 7 conclusion of its 2025 regular session. READ THE FULL STORY AT THE SUM & SUBSTANCE
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Colorado insurance rates will increase more than three times the rate of inflation in 2025
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coloradopolitics.com, State

Colorado insurance rates will increase more than three times the rate of inflation in 2025

By Marianne Goodland | Colorado Politics With open enrollment for health insurance set to begin in two weeks, Colorado's Division of Insurance has finalized rates for premiums in the individual and small group markets. Premium increases in both markets for 2025 are set to rise at more than three times the rate of inflation forecast for next year. Individual premium increases will rise 5.6%, and small businesses, those with 100 or fewer employees, will rise 7.1%. However, medical inflation rises faster than consumer inflation, according to the Kaiser Family Foundation. In an August report, the foundation said that in June 2024, medical prices grew by 3.3% from the previous year, higher than the 3.0% overall annual inflation rate. READ THE FULL STORY AT COLORADO POLITICS
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Health insurance prices for some in Colorado will go up next year, an average of 5.6%
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State, The Colorado Sun

Health insurance prices for some in Colorado will go up next year, an average of 5.6%

By John Ingold | The Colorado Sun Health insurance prices in Colorado are set to climb again next year on the whole, but by a below-average amount, according to final, approved rates released Thursday. But, as is often the case in health insurance, that doesn’t necessarily mean your insurance prices are going to go up for 2025. In fact, Thursday’s rates apply only to a subset of people who have private insurance coverage. READ THE FULL STORY AT THE COLORADO SUN
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Car insurance rates are still sky high in Colorado. Here’s how you can make sure you’re paying as little as possible
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CBS Colorado, Local

Car insurance rates are still sky high in Colorado. Here’s how you can make sure you’re paying as little as possible

By Karen Morfitt | CBS Colorado One of the biggest drivers of inflation in America over the past few years has been car insurance. The cost of paying for insurance coverage on a vehicle has soared since 2020, especially in Colorado, which is now one of the worst states in the country in terms of cost. In 2023, rates jumped an average of 23%, with the pace continuing this year. Rates are up another 16% in 2024 and experts say it could top out at 22% before the end of the year. Steve Hakes is the owner of Rocky Mountain Insurance Center, a brokerage that helps Colorado consumers shop for carriers. READ THE FULL STORY AT CBS COLORADO
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