Colorado: Consumer Advisory: Open Enrollment starts Nov. 1: Compare Options and Find out How to Save

DENVER - Open enrollment for health insurance for the individual market - for people that don't get their health insurance from an employer or a government program like Medicare or Medicaid - starts Sunday, November 1. The Colorado Division of Insurance encourages everyone to take the time to review the health insurance plans available for 2027 and determine what financial assistance might be available to them.

Using the state's marketplace, Connect for Health Colorado, people can shop, compare plans and determine what financial assistance will be available by using the Estimate & Explore Tool.

"Coloradans who buy insurance through the Colorado Option are saving hundreds of dollars and this nation-leading public option is delivering real savings for Coloradans. I encourage all eligible Coloradans to explore plans through open enrollment for 2027 coverage using Connect for Health Colorado and see what you can save," said Governor Jared Polis.

"I am so proud of all of the progress that the Polis-Primavera administration has made on saving Coloradans money on health care. The Colorado Option is setting the national standard for transparent and affordable health care insurance plans. If you buy your own insurance, take time to shop and compare on Connect for Health Colorado," said Lt. Governor Dianne Primavera and Director of the Office of Saving People Money on Health Care.

"Health insurance is absolutely vital in keeping people and their families healthy," said Colorado Insurance Commissioner Michael Conway. "That's why we worked so hard here in Colorado to pass legislation to keep health insurance costs down. I want to remind consumers that Colorado Option plans offer easy to understand benefits with lower average premiums across the State. I encourage everyone to review available plans during open enrollment and sign up for health insurance for 2027."

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"Too many people assume they don't qualify for savings, but that's not always the case," noted Kevin Patterson, CEO, Connect for Health Colorado. "By shopping and comparing plans through Connect for Health Colorado, many Coloradans will find lower-cost coverage, financial assistance, or a plan that better meets their health care needs. Open Enrollment is an opportunity to explore your options and potentially save money."

Coloradans who no longer receive health care coverage through Medicaid should review their coverage options during the open enrollment period.

On average, premiums in Colorado will increase 10% in the individual market, compared to the 15% national median. For Plan Year 2027, the Division of Insurance saved Colorado consumers $42,136,281 on their premiums through the rate review process. Despite health insurance premium increases this year, Colorado is faring better than other states. Premium increases are lower in Colorado than the median across all states.

Save Money with Colorado Option Plans

For 2027, Colorado Option plans will offer significant savings for enrollees. People who are enrolled in a Colorado Option plan pay $14-$33 less each month in premiums and 15% less in out-of-pocket costs.

Consider if the Plan is ACA Compliant

Plans offered through Colorado's official marketplace, Connect for Health Colorado, offer comprehensive coverage that meets Affordable Care Act (ACA) standards, such as $0 preventative care visits. Limited benefit plans do not meet the requirements of the ACA. These can include short-term plans, limited benefit plans, trade association plans, and discount plans. These types of plans and products are not sold through Connect for Health Colorado and are often sold through unsolicited calls and text messages from brokers who are not affiliated with Connect for Health Colorado. To confirm that a broker is licensed, visit doi.colorado.gov.

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Limited benefit plans typically provide low monthly costs but likely do not offer comprehensive coverage and may include exclusions for services covered by ACA plans. An example of an exclusion could be no coverage for pregnancy or delivery services, or no coverage for pre-existing conditions. Limited benefits plans are intended to supplement ACA-compliant health benefit plans by providing payments intended to help a policyholder pay their deductible and out-of-pocket maximums, but are not a substitute for an ACA-compliant plan.

Legislation Helping to Save Coloradans Money

Governor Polis signed SB26-178 into law earlier this year to continue to provide relief to Coloradans through Reinsurance and Colorado Premium Assistance (CPA). Thanks to CPA, financially assisted customers will see an estimated net premium increase of just $20 per month from 2026 to 2027. Without this support, increases would have been more than three times higher, averaging $69 per month.

Reinsurance Savings

Colorado's Reinsurance program has reduced premiums since 2020. In Plan Year 2027, the program will save Coloradans nearly $470 million. By the end of 2027, the program will have saved Coloradans over $2.5 billion since 2020.

Take the Time to Shop and Find Savings

It is important that Colorado consumers take the time to shop and compare plans. Connect for Health Colorado estimates that 69% of customers are likely to qualify for financial help, and 60% of individual market customers who qualify for financial help could find a plan for $10 or less per month by shopping and comparing.

Coloradans can use the Estimate & Explore Tool to find the best plan.

Open Enrollment lasts until January 15, 2027. However, to have health insurance coverage in place by January 1, 2027, people will need to be enrolled by December 15, 2026. For people who complete their enrollment between December 16, 2026 and January 15, 2027, health insurance will start on February 1, 2027.

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