Coloradans Will Save Money on Health Care Thanks To Federal Approval of State's Reinsurance Program

Statement

Today, the Centers for Medicare and Medicaid Services (CMS) notified the Colorado Division of Insurance (DOI) that Colorado's application for a 1332 waiver to establish a reinsurance program was approved. The DOI, part of the Department of Regulatory Agencies (DORA), submitted the application on May 20.

"For the first time in history, Coloradans in the individual health insurance market will save an average of 18.2 percent next year. Finally, we're driving insurance premiums down," said Governor Jared Polis.

"We are thrilled to announce that Colorado has received federal approval for our reinsurance program, which will directly reduce health care premiums for hundreds of thousands of Colorado families. Bringing down the outrageous cost of health care in our state has been a top priority for my administration from the beginning, and this is a significant milestone on our way toward achieving that goal. We're already seeing the direct impact this program will have on premiums on the individual market. That's thousands of dollars in savings that Coloradans can put toward paying the mortgage, saving for college or retirement, taking a family vacation, or just living their lives."

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