Colorado Health Insurance

Health insurers in Colorado operate under somewhat tighter restrictions than in many other states, which can be very helpful if you are currently seeking new coverage here.  Before shopping around for health insurance here, please read over the following information on insurance regulations in Colorado.

• Insurers that are permitted to operate in Colorado are licensed to assure that they abide by the state’s regulations.  Unless otherwise specified, any information provided here applies only to licensed Colorado health insurance companies.
• Health insurers in Colorado are required to provide guaranteed renewability to those who currently have health insurance and are keeping up with their premiums.  This means that your insurer cannot cancel your coverage, or prevent you from renewing your policy, unless you haven’t kept to the terms of your policy’s contract.
• Colorado health coverage can include provisions that exclude coverage for pre-existing conditions, but these exclusions can only last for up to one year.  In addition, those who switch to a new health policy are allowed to transfer the excluded time they’ve already spent, meaning that their new policy can’t force them to go through another exclusion period for the same condition.  In Colorado, a “pre-existing condition” is defined as one that has been diagnosed or treated within the past twelve months.
• Although no health insurer in Colorado may cancel your existing health coverage on the grounds of failing health, they are freely permitted to refuse any new applicant for this reason.  If you are already a policy-holder, your insurer may choose to raise your premiums on the basis of health complications, age, and so on.
• Small businesses— meaning any businesses with between 2 and 50 employees— in Colorado are guaranteed access to any health insurance policy that is currently being offered to any other small business here.  Pricing of these policies is not strictly controlled, however, and the insurer may require a minimum level of participation to keep this group policy in effect.
• When setting the prices for a small-business group health policy, the insurer may take into account factors like location, age, and family status.  Prices may not be changed due to the health of the subscribers, however, nor may the insurer cancel coverage on the grounds of illness among those covered.
• Self-employed workers are able to choose between an individual health policy or small-business group coverage, even if there is currently no one else on the company payroll.  Those who decide on individual coverage are able to deduct a portion of their premiums from their tax liability.

While Colorado’s health insurance regulations provide a measure of protection to the insured, those who do not yet have health coverage may find the going more difficult the longer they wait to purchase health insurance—the younger and healthier you currently are, the easier it will be to find the coverage and pricing you want.  Before choosing any one policy over another, be sure to compare several companies’ rates and carefully examine the details of each policy you find appealing.

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