Colorado ACA insurance market loses one insurer, gains another

Key Points:

• In 2027, Colorado’s individual health insurance marketplace will gain a new insurer, Colorado Access, which will operate in 14 counties, including most where Cigna Healthcare is exiting, marking the first new entrant in three years.
• Cigna Healthcare is withdrawing from all states offering individual plans, including Colorado, citing the individual marketplace as a small part of its business and a need to focus on core priorities.
• Colorado Access, a local nonprofit that administers Medicaid and Child Health Plan Plus, plans to expand cautiously and aims to serve members losing Medicaid coverage due to new eligibility certification requirements.
• Colorado’s marketplace enrollment has declined by about 7% since subsidy changes took effect, though state subsidies partially offset federal subsidy expirations, helping maintain competitive plan options.
• Insurers nationwide are requesting average premium increases of 14% due to rising healthcare costs, with final rates for Colorado expected in October after regulatory review.