Colorado’s rise in health care premiums is second-highest in U.S.

Personal medical health insurance premiums rose increased in Colorado this yr than each state besides one, a latest report reveals.

By the numbers: The common month-to-month price between 2022 and 2023 in Colorado for a 40-year-old with a mid-range silver plan soared 19.6% — from $409 to $489 — in accordance with shopper analysis firm ValuePenguin.

• Colorado’s premium will increase are solely second to Georgia, which noticed a spike of 20.3%.
• Nationwide, the soar is about 4% at a mean price of $560 a month.

Between the traces: Whenever you consider all age teams and protection sorts, the typical charge hike in Colorado is nearer to 10.4%, per the state Division of Insurance coverage.

State of play: The uptick comes because the state begins ramping up its regulation of the market and providing a state insurance coverage plan, known as “Colorado Choice.”

Actuality verify: Some states have it a lot worse in relation to {dollars} and cents. Wyoming, for instance, will see the best price — with the identical mid-level plan growing 15% to $882 a month.

• Alaska additionally noticed premiums rise 15% for a brand new complete of $822 in 2023.

The massive image: Personal medical health insurance premiums climbed in 36 states this yr — however the place you reside closely influences how a lot you pay, Axios’ Tina Reed writes.