Grand Junction residents who buy their own health insurance are facing a significant premium hike next year. The state's Department of Insurance announced Tuesday that individuals in the Grand Junction area will see their health insurance premiums jump by 15.5%. This increase is considerably higher than the 10% statewide average and more than double the 5.9% increase expected for Coloradans on the Eastern Plains, making it one of the higher regional increases across the state.
This change particularly affects residents, small business owners, and others in Mesa County who do not receive health coverage through an employer and instead purchase plans directly on the individual market, such as through Colorado’s individual health insurance marketplace, Connect for Health.
Across Colorado, the average increase for individual market health insurance premiums is set at 10%. Additionally, businesses providing health insurance to their employees through the small group market can expect a 14% increase in their premiums next year. The state noted that premiums see some level of increase annually.
Michael Conway, the state’s insurance commissioner, addressed the increases in a statement, acknowledging the challenges in keeping costs down. Conway stated that the state is "doing everything we can to keep health insurance prices down" so Coloradans can afford access to health care. He noted that these efforts are ongoing despite the loss of federal premium tax credits.
Conway specifically referred to Congress's failure to extend these enhanced premium tax credits, which were federal subsidies that previously helped millions of Americans afford health insurance plans purchased through the individual market established by the Affordable Care Act. He emphasized that Congress still needs to restore these subsidies.
While calling for Congress to act, Colorado lawmakers took action this year by passing a bill to fund a smaller, state-specific insurance subsidy. According to the state, this new Colorado subsidy is expected to mitigate the financial burden for many. Financially-assisted customers in Colorado will experience a monthly premium increase of approximately $20. Without this state support, the increase would have been around $69 per month for these customers, highlighting the subsidy's role in reducing the impact of rising costs for those who qualify.
