September 23, 2022
  • September 23, 2022

Best Cheap Health Insurance in Colorado 2021

By on October 21, 2021 0

You could save $ 182 per month by comparing health insurance prices and finding Colorado’s cheapest Silver plan.

Find Cheap Health Insurance Quotes In Colorado

Colorado’s cheapest health insurance plan for most people is the Silver X Friday Health plan. It is the cheapest silver police in 11 of the state’s counties. Alternatively, buyers can find inexpensive coverage with the 5000 Rx Copay Silver or the Anthem Silver Pathway X HMO 5500 plan.

Colorado’s Connect for Health state insurance market offers purchase health plans under the Affordable Care Act (ACA). But if your household income falls below 138% of the federal poverty line, you can purchase health insurance through the federally funded Medicaid program.

We analyzed all the health insurance policies offered on the Connect for Health marketplace to find the most affordable health plan for each level of metal. While these are the cheapest plans available, they may not be available to everyone, as the availability of insurers and health policies is determined by the county in which you live. The table below should be used as an initial guide in determining which level of metal is most appropriate based on your financial and health situation.

Bronze Bronze 8550 Rx Copay $ 8,550 $ 8,550 $ 254
Money KP CO Silver 2500/25 $ 2,500 $ 8,550 $ 278.20
Gold Gold Friday Rx Copay X $ 950 $ 8,250 $ 259.35

Colorado health insurance policies are divided into three metal levels: Bronze, Silver, and Gold. The higher levels have the most expensive premiums, but also have smaller limits and deductibles.

A health insurance agency will take your age into account in determining the rate you will receive. Since you are more likely to use health services as you get older, the average cost of health insurance will increase as you get older.

For example, a 60-year-old would pay 114% more for a Silver policy compared to a 40-year-old, or $ 458 more per month on average. That same 40-year-old buyer would find premiums 27% more expensive than premiums for a 21-year-old man.

Finding the Best Health Insurance Coverage in Colorado

The better health insurance coverage for you will be determined by your financial situation and medical needs. The two main differentiators between health plans are the monthly premiums and franchises. You need to analyze them carefully to determine what fits your health insurance needs and will provide the best coverage. Below we have provided guidelines for the three levels available in Colorado.

Get started with Silver plans

A Silver plan is an affordable middle-of-the-road policy that tends to have modest premiums as well as a deductible and maximum amount between Bronze and Gold levels. We recommend that you begin your healthcare search by evaluating Silver plans because they are great for a variety of people, unless you are in very good health, can absorb a very high deductible, or know you will have a number of significant medical expenses.

Silver plans are also the only health insurance plans eligible for cost-sharing reductions if you fall below 250% of the federal poverty line. These discounts can further reduce your co-pay, coinsurance, and deductibles, and can sometimes provide more benefits than Gold plans.

Colorado’s cheapest Silver plan is the KP CO Silver 2500/25. Compare all levels in Colorado above.

Gold plans: Ideal if you anticipate high medical costs

Gold is the highest level offered in Colorado and sometimes has the most expensive monthly premiums. But policies also have the lowest deductibles, which can make it easier to get started. coinsurance. For this reason, Gold plans are the best option if you expect to have a number of medical bills which can be costly. For example, if you have diabetes and need monthly access to insulin, which can add up to medical bills very quickly.

Colorado’s cheapest Gold plan is the Gold Friday Rx Copay X. Compare all levels in Colorado above.

Bronze plans: Best if you’re healthy

The cheapest plans available for purchase are the Bronze plans, and they might be the best if you have a low income due to the affordable monthly premiums. These plans have the highest deductibles and are therefore only recommended if you are in excellent health and can afford a higher deductible. Bronze plans offer coinsurance once the high deductible has been reached. This means that it would take a big medical bill to hit the deductible level and you could find yourself incurring a lot more expense.

Colorado’s cheapest Bronze plan is the Bronze 8550 Rx Copay. Compare all levels in Colorado above.

Colorado Short Term Health Insurance

Short term health insurance not available for purchase in Colorado directly from health insurance companies. The state changed its rules for short-term health insurance in 2019, after which insurers stopped offering short-term plans.

Short-term health insurance can be useful if you need a more affordable solution than traditional health insurance. But it’s important to recognize that short-term health insurance policies usually don’t cover the essential benefits that ACA policies always cover.

Find cheap health insurance quotes in your area

Colorado Health Insurance Rate Changes

The average cost of health insurance in Colorado across all levels is $ 377 per month, down 6% from 2020.

The cost of health insurance varies depending on the level of metal. Over the past year, the average cost of insurance has fallen in each of Colorado’s metallic levels. The biggest drop affected Gold plans, which are 8% cheaper this year than they were in 2020.

Bronze $ 337 $ 322 -4%
Money $ 423 $ 403 -5%
Gold $ 476 $ 438 -8%

Colorado Health Insurance Companies

There are currently eight health insurance companies that provide policies through the Colorado State Stock Exchange:

  • Friday

  • Luminous health

  • Denver Medicare Plan

  • Oscar

  • Anthem Blue Cross & Blue Shield

  • Rocky Mountain Health Diets

  • Kaiser Permanente

  • Cigna

Cheapest Silver Plan by County

The cost of health insurance may change depending on where you live. Therefore, when purchasing a health plan, it is important to first identify which policies are available and affordable in your country. For example, the cheapest Silver plan offered in Denver County is the 5000 Rx Copay Silver, while in Boulder County it is the Oscar Money Saver 2. In the table below, we’ve listed the cheapest Silver plans offered in counties across the state.

Adams 5000 Rx Copay Silver $ 330 $ 661
Arapahoe 5000 Rx Copay Silver $ 330 $ 661
Baca Silver Friday X $ 384 $ 768
Curve Silver Friday X $ 384 $ 768
Rock Oscar Money Saver 2 $ 348 $ 696
Broom field 5000 Rx Copay Silver $ 330 $ 661
Cheyenne Silver Friday X $ 384 $ 768
Clear stream Anthem Silver Pathway Essentials X HMO 5500 $ 343 $ 686
Crowley Silver Friday X $ 384 $ 768
Denver 5000 Rx Copay Silver $ 330 $ 661
Douglas KP CO Silver 2500/25 $ 278 $ 556
Eagle Anthem Silver Mountain Enhanced X HMO 5500 $ 410 $ 819

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The rates and health insurance plans were taken from the Connect for Health state health insurance exchange. Using the premiums, averages were determined for a variety of variables such as metal level, age, and county.