Colorado Community

Consumer Advocates, State Regulators Reject 19 Percent Insurance Hike

Aimee Sharp
Author | Shield HealthCare
10/16/14  10:02 PM PST
From Health News Colorado

By Katie Kerwin McCrimmon, for Health News Colorado

Consumer advocates say careful rate review will save Coloradans millions on health insurance next year, but they warned people to shop around and ask questions as they renew old plans or hunt for new ones starting next month.

For example, rate experts from the Colorado Consumer Health Initiative protested a proposed increase of 19 percent between 2014 and 2015 rates on a policy from Anthem Blue Cross and Blue Shield of Colorado that could affect about 21,000 consumers. State regulators questioned the hike and ultimately approved an increase of 13.9 percent year over year. While that hike is higher than increases on many other policies in Colorado from 2014 to 2015, advocates say the 5 percent savings would amount to about $4.7 million if all customers renewed — or about $220 per year for each policyholder.

Read Full Article from Health News Colorado