Individual market health insurance rates expected to skyrocket for Coloradans
COLORADO SPRINGS, Colo. (KRDO) -- Health insurance premiums are expected to skyrocket for roughly 321,000 Coloradans, according to the Colorado Division of Insurance (DOI). The changes impact people in the individual market-- those who don't have coverage through their employer-- like people who are self-employed, only work part-time, or whose employers don't offer insurance.
According to the DOI, the statewide average for submitted premium increases in Colorado is 28%. In Colorado Springs specifically, the average requested increase is about 24%, and in Pueblo, the increase is expected to be an average of 30%.
The governor's office says these will be the largest premium increases in years. The DOI says the average rate in Colorado increased 5.6% in 2025, 9.7% in 2024, 10.4% in 2023, and 1.1% in 2022.
According to the DOI, these changes are set to impact people across the United States, not just Coloradans.
Democrats have fired blame at Republicans for the increase, saying it all came down to "the passage of the federal tax bill cutting health care, combined with Republicans’ refusal to extend enhanced tax credits in Congress," according to a DOI press release. Additionally, financial assistance that helped middle-class Americans afford health insurance is set to expire in December.
“Blaming the One Big Beautiful Bill which roots out Medicaid waste, fraud and abuse on increases in private insurance is misplaced,” said Rep. Jeff Crank, from the 5th district, in a statement. “Especially when many of the provisions don’t kick in until 2027. If I was the governor I would start looking at ways to reduce regulatory burdens on health insurers that drive up the cost to individuals and families.”
While the Big Beautiful Bill has already been signed into law, Democrats say there is still time to extend the Expanded Premium Tax Credits (PTC) that will be expiring at the end of the year.
"Republicans' cruel budget bill gutted Medicaid to pay for tax cuts for the wealthiest Americans. If Republican leadership fails to extend the Expanded Premium Tax Credits, set to expire this year, private health insurance costs will skyrocket. Colorado families are already struggling to make ends meet. Republicans must act now. Coloradans are relying on this critical lifeline,” said Senator Michael Bennet.
KRDO13 has reached out to the DOI for the above data specific to Colorado Springs.
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