If you ve ever shopped for your own individual health insurance in Colorado, you may have been surprised at how high Colorado health insurance companies premiums really are. Employers are seeing the same trends in the cost of their group health plans. Some have suggested that these price increases are beyond the normal annual adjustments, and that this is the insurance industry s answer to “ObamaCare”. No matter how you look at it, it may be helpful to know that there are other states that have it much worse than Colorado.

According to a recent article published by the Colorado Division of Insurance, Colorado ranked 26^th in the nation in 2009 for healthcare premiums. While the state is one of the most competitive in the nation, the top ten health insurance companies still dominate with greater than a 72% market share. Since rising healthcare costs tend to affect the self-employed to a greater degree than anyone, Colorado health insurance companies are working to reduce premiums on some high-deductible and HSA compatible health plans. While these plans hardly compare with the group PPO and HMO plans offered by many Colorado employers, the tax benefits of an HSA plan are a good reason to consider these plans. Plus, unlike temporary or “catastrophic” health plans, these individual policies are “guaranteed renewable” so they cannot be canceled if the insured person becomes seriously ill.

As health care costs continue to rise, the profits of many health insurance companies have fallen flat. This, plus the fact that all insured persons share in the risks of a larger group, means that Colorado health insurance companies premiums are bound to go up.

To learn more about what you can do to get the health insurance coverage you need at the right price, it helps to work with an experienced Colorado health insurance broker. A broker from HealthQuotes.com can help you understand the coverage and benefits included in Colorado health insurance companies premiums, and decide on the right policy to meet your needs. Michael Horvat is a health insurance expert and broker with HealthQuotes.com 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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