A recent press release from the Colorado Division of Insurance indicates that Colorado health insurance companies will continue to raise premiums across the state in 2011. However, contrary to popular belief, less than 5 percent of all rate increases scheduled for next year are attributable to recent Health Care Reform laws. Instead, it seems as if the same factors that have been driving increase premiums will continue to play a role in rising healthcare costs. These include an aging population with more healthcare issues, greater utilization of health care services, and recent advancements in treatment alternatives. If you are pricing different plans from Colorado health insurance companies, it is easy to be drawn in by lower-than-average rates, and then see your premiums go up by a substantial amount each year thereafter. Even the best rates will eventually “catch up” with the rest of the market. It is difficult to tell whether increased efficiencies in the healthcare system will eventually make it more affordable, but it seems as if each health insurance company is waiting to see what the others will do before taking bold steps of their own. In the Division of Insurance's (DOI) press release, it projects that the rates from the top ten carriers in Colorado will go up by about 12.9% in 2011, on average, but the actual rate increases will vary from one Colorado health insurance company to another. One reason why the DOI is taking such an active role in reviewing these rate hikes is that they’ve received additional funding from the Health Care Reform laws to do so. As the industry watchdog for Colorado, the DOI wants to make sure that these increases are justified. As a Colorado health insurance broker, I know how important it is to stay informed about the cost of healthcare because I use this information to advise my clients in choosing a health insurance plan. If the various offerings from Colorado health insurance companies have you confused, you are not alone. Working with an experienced professional broker will save you time and money while helping you find the plan that meets your needs. Michael Horvat is a health insurance expert and broker with HealthQuotes.com in Colorado Springs, CO. If you are searching for Colorado health insurance plans or quotes, please give Michael a call anytime at 800-345-0789.

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