DENVER — Health insurance premiums from the state’s individual marketplace will see an increase in 2023, the Colorado Division of Insurance (DOI) announced Wednesday.
The overall average consumer impact on premiums in the individual market on Connect for Health Colorado will be a 10.4% increase over 2022 premiums, according to the DOI.
To offset the increased cost, the state-run marketplace said subsidies that buyers receive based on their income will increase.
Open enrollment for individual plans will start Nov. 1 and run until Jan. 15, 2023.
Six companies are returning to offer plans for 2023: Anthem, Cigna, Denver Health, Friday Health Plans, Kaiser Permanente and Rocky Mountain Health Plans. Two companies, Oscar and Bright Health, are exiting Colorado’s market.