The Challenges of Finding Affordable Child Health Insurance in Colorado

Finding health insurance for children that is both comprehensive and affordable can be a challenge for any parent, but in the state of Colorado many insurers are starting to drop their children’s health insurance. As a result, the Colorado health insurance commissioner recently issued a regulation that is expected to lure these carriers back into the market.

In a September 24^th Denver Post article, it was reported that health insurers in the state are seeking rate hikes due to the new healthcare reform laws. It was this announcement that prompted the Colorado Division of Insurance to issue an emergency regulation that mandates a limited period of open enrollment.  One reason that this could work is that it would let insurers know when children, whether they are healthy or sick, could be added to existing health insurance policies, but there is no guarantee that this will make a difference to the "sickened state" of child health insurance in Colorado.

By announcing that they would no longer offer individual child health insurance in Colorado, six major health insurance carriers have left consumers with very few options. In just the last two weeks, Cigna, Humana, Aetna and Anthem have stopped selling health insurance for kids.

With unemployment so high, many parents are opting to insure their children on individual policies while foregoing insurance coverage for themselves. One of the key provisions of healthcare reform is what prompted this change, because the new law prohibits insurers from rejecting children with preexisting conditions.  This provision caused concern among carriers because now it is possible for parents to wait until their children get sick before signing up for coverage. However, a proposal to limit the open-enrollment window to a few times per year was recommended by the Division of Insurance to reduce the insurers‚Äô liability. Outside of the proposed open enrollment periods in January and July, parents and children would then be forced to wait for coverage.

It is obvious that the new healthcare reform laws will seriously impact the type of coverage that is available to Colorado residents at any given time, making it difficult to purchase health insurance for kids or adults. Working with a Colorado health insurance broker who has knowledge of these issues is the best way to prevent confusion when purchasing coverage.

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.