Feds Approve Colorado Reinsurance

DENVER (AP) – Governor Jared Polis plans to confirm that the federal government has approved a Colorado reinsurance plan designed to lower premiums for individuals buying insurance on the state health care exchange.

Polis already has released projections showing that premiums next year for 400,000 Coloradans – about 8% of those buying insurance on the exchange – will drop by more than 18% with a reinsurance plan in place.

The program starts for 2020 coverage plans.

Under it, the state covers the most expensive medical claims, allowing private insurers to lower rates for individuals participating in the individual Connect for Health Colorado market.