INDIVIDUAL MEDICAL PLANS - SIGNIFICANT PREMIUM INCREASES PROJECTED FOR 2017

On June 6, 2016 The Colorado Division of Insurance (DOI), released the preliminary 2017 individual health plans and premiums.

PREMIUM INCREASES FOR THE INDIVIDUAL MARKET

The individual market is projecting significant premium increases in 2017. The carriers review what they pay out for health claims to doctors, hospitals and other providers in order to set appropriate premiums that will allow them to pay claims and remain in business. Commissioner Salazar stated that “In general, the companies have indicated that the people enrolled in individual plans have used more healthcare services and with greater frequency than anticipated”.

360benefits will continue to closely follow the market and will be contacting all of our individual clients in September to verify your information and update your plan preferences. Final plans and rates will be released in late October for open enrollment beginning in November.