individual market

Consumers and businesses nationwide will receive an estimated $1.3 billion in rebates in August from health insurance companies that spent more on administration, overhead and profits than allowed under the Affordable Care Act, according to the Kaiser Family Foundation.

In Colorado, individuals and businesses will receive almost $26 million. Insurance companies will send rebates to 511,684 enrollees, for an average of $54.58 for each enrollee in the individual market, $82.62 in the small-group market and $47.84 in the large-group market.

This bill represents a net opportunity gain for Colorado. By equalizing the cost of health insurance premiums paid by men and women in the non-group market, the bill will reduce gender discrimination in health insurance. The bill will help reduce the financial barriers that women face to quality, affordable health care in Colorado.

Summary of Legislation