DENVER (KDVR) — On Monday, the Colorado Division of Insurance released the final approved premium information for 2026 private health insurance plans, showing that the average Coloradan will see health insurance costs double.
The DOI shared that consumers in Colorado’s individual marketplace will see net average premium increases of 101%, or double the premium costs.
“The DOI estimates these premium increases will lead to approximately 75,000 Coloradans losing access to health coverage,” the agency said in a release.
The numbers show a sharp increase in the average statewide cost, but the DOI said a bill passed during Colorado’s special session this summer helped mitigate the increases.
The news of Colorado’s ballooning insurance costs comes as Democrats in Congress continue to refuse to vote in favor of a continuing resolution to fund the federal government. Meanwhile, Republicans have continued to advance measures that would do away with the credits, saying that the Democrats are trying to fund healthcare for undocumented immigrants.
The Colorado DOI said that since 2021, federal enhanced premium tax credits have lowered individuals’ costs, and the credits are set to expire on Dec. 31 of this year.
“Approximately 225,000 Coloradans depend on the tax credits to afford health coverage in the individual market,” the Colorado DOI said. “The loss of these tax credits represents the vast majority of the premium increases consumers will see as they shop around during open enrollment.”
A survey shared with one of FOX31’s content partners, The Hill, showed that 69% of American voters believe health care is not affordable, and 35% said they currently owed money or have debt due to medical or dental expenses.
The agency had an example for what analysts foresee happening without the credits: A family of four that has an annual income of $128,000 will no longer see financial assistance from the tax credits, and if the family lives in the Denver area, their standard silver health insurance plan would increase by approximately $14,000. If the family lives on the Western Slope, southwest Colorado, the San Luis Valley, or the eastern plains, the premium for that standard plan will increase by over $16,000 to nearly $21,000.
Open enrollment is slated to begin on Saturday, Nov. 1.
“These premium increases are going to create impossible decisions for families across the state. We have sounded the alarm bells at every turn, but Congress’ refusal to act means that Coloradans will be left with unacceptably high health insurance bills during a tightening time in the economy,” said Colorado Insurance Commissioner Michael Conway in the agency’s release. “I thank the Colorado legislature for what they have done so far to protect their constituents, and I urge Congress to step up and extend the enhanced premium tax credits. Coloradans shouldn’t have to gamble their health simply because they cannot afford these rate increases caused by the federal government.”
The DOI said that if the enhanced premium tax credits were extended by Congress, the average insurance premium increase in Colorado would be 16%, instead of 101%, and some customers would not see an increase.
One of those measures taken by the Colorado legislature was passed during the special session this summer: HB25B-1006, “Improve Affordability Private Health Insurance,” which funds Colorado’s Health Insurance Affordability Enterprise. The DOI said that the bill will save Coloradans $220 million on health insurance in 2026 and is reducing the forecast statewide average net premium increase from 174% to 101%.
The DOI said the bill is also expected to keep 28,000 more Coloradans insured.
The DOI also noted that it offers the Colorado Option plans, which “will continue to provide plans with $1 primary care and mental health visits.”
Anthony Sutton is a business strategist and writer with a passion for management, leadership, and entrepreneurship. With years of experience in the corporate world, he shares insights on business growth, strategy, and innovation through management-opleiding.org.
