How To Find the Best Health Insurance in Colorado

The best way to find high-quality health insurance plans at a low price in Colorado is to shop around, comparing quotes from multiple health insurance companies. Even though health insurance costs tend to be a bit below average in Colorado, you should still keep an eye out for opportunities to save on coverage.

Keep reading to learn more about Colorado health insurance such as when and how you can join a plan and how coverage costs vary among major metropolitan areas in Colorado.

On This Page

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  Is Health Insurance Required in Colorado?

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  Colorado Health Insurance Rankings

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  How Much Does Health Insurance Cost in Colorado?

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  What Is the Average Cost of Health Insurance in Colorado by City?

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  Which Health Insurance Companies Are the Most Affordable in Colorado?

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  When Is Open Enrollment for Health Insurance in Colorado?

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  What Types of Health Insurance Are Available in Colorado?

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  How To Get Health Insurance in Colorado

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  FAQs

Is Health Insurance Required in Colorado?

The state government of Colorado does not impose a penalty on residents who choose to go without health insurance. Federal law technically requires coverage but the individual mandate provision is not enforced at the federal level, making health insurance effectively optional in the vast majority of states.^[1]

Colorado Health Insurance Rankings

Colorado has a well-rated health care system, ranking No. 18 in the country in a 2023 study conducted by the Commonwealth Fund. It is notably the highest-ranked Rocky Mountain state and finished in the top 10 in the nation for the prevention and treatment of illnesses and the minimization of avoidable hospital visits and expenses. Below, you’ll find an overview of Colorado’s rank in every major dimension included in the study.^[2]

How Much Does Health Insurance Cost in Colorado?

The average cost of Marketplace benchmark health insurance in Colorado is $451 per month, which is a bit cheaper than the average monthly premium of $477 for the United States as a whole. Other average monthly rates to keep in mind include $327 for the cheapest bronze-tier health plan available in Colorado, $433 for the cheapest silver-tier plan and $407 for the cheapest gold-tier plan.^[3]

Cheapest Health Insurance Options in Colorado

You can generally save money on your monthly health insurance premiums by opting for a plan in the bronze tier. However, you should note that your insurance company will cover a smaller percentage of the costs whenever you receive care, meaning bronze plan members can expect to spend more on copays, coinsurance and deductibles.^[4]

Meanwhile, health maintenance organizations (HMOs) often have lower premiums and out-of-pocket costs than preferred provider organizations (PPOs), although these plans restrict coverage for out-of-network care and specialist visits unless you receive a referral from your primary care physician.^[5]

What Is the Average Cost of Health Insurance in Colorado by City?

In the following table, you’ll see what the monthly median costs of Marketplace health insurance plans are without taking premium tax credits into account for 30-year-olds in several major cities in Colorado.^[6]

Which Health Insurance Companies Are the Most Affordable in Colorado?

You can find the most affordable health insurance in the silver tier in Colorado by shopping from Cigna. Up next is a table listing all of the health insurance carriers that offer silver-tier coverage to 40-year-old Coloradans for less than $700 per month.^[7]

When Is Open Enrollment for Health Insurance in Colorado?

Open enrollment occurs on Colorado’s health insurance marketplace, Connect for Health Colorado, from November 1 to January 15. You can also sign up for coverage during a special enrollment period triggered by a qualifying life event like losing your work-based health coverage or experiencing a change in your income. Additionally, certain low-income Coloradans and members of federally recognized Native American tribes can apply for coverage at any time throughout the year.^[8]

What Types of Health Insurance Are Available in Colorado?

There are multiple ways to obtain health insurance coverage in Colorado. For example, depending on your circumstances, you may be able to receive benefits through plans or programs like these:

• Marketplace health insurance
• Private health insurance purchased directly from an insurance company
• Employer-sponsored group health insurance
• Consolidated Omnibus Budget Reconciliation Act (COBRA) continuation coverage
• Medicare
• Medicaid, also known as Health First Colorado
• Children’s Health Insurance Program (CHIP), also known as Child Health Plan Plus in Colorado
• Department of Veterans Affairs (VA) health benefits
• Student health plans

How To Get Health Insurance in Colorado

You’ll generally want to collect three to five health insurance quotes from different health insurance companies before deciding which plan you’ll join. Some of the information you’ll need to be prepared to share in order to obtain a quote includes your ZIP code, age, household size and household income.

To simplify the comparison shopping process, consider going through a free-to-use marketplace platform like SmartFinancial. Once you give us information about the type of coverage you need, we’ll get you in touch with agents who can help you compare prices among health plans in your area. Get started on your questionnaire and compare health insurance quotes today.