Health Insurance

Best Cheap Health Insurance in Colorado 2020

Colorado's Connect for Health state insurance marketplace offers Affordable Care Act health plans for purchase. The policies provide health care coverage but if your household income falls below 138% of the federal poverty level, you can acquire health insurance through the federally funded Medicaid program.

Find Cheap Health Insurance Quotes in Your Area

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After comparing all health insurance plans from the marketplace, we found that the KP Select Co Silver 4000/30/HSA was the cheapest Silver plan available in Colorado — though it's only offered in 21 counties.

Cheapest Health Insurance by Metal Tier

We analyzed all the health insurance policies offered on the Connect for Health marketplace to find the most affordable health plan for each metal tier. Although these are the cheapest plans available, they may not be offered to everyone, since the availability of insurers and health policies is determined by the county you live in. The table below should be used as an initial guide to determine what metal tier is most appropriate depending on your financial and health situation.

Metal TierCheapest PlanDeductibleOut Of Pocket MaxMonthly Cost for 40-Year-Old
CatastrophicFriday Value Choice 100$7,350$7,350$240.10
BronzeKP Select CO Bronze 5250/50/HSA$5,250$6,550$278.17
SilverKP Select CO Silver 4000/30/HSA$4,000$5,500$311.51
GoldKP Select CO Gold 1500/30/HSA$1,500$3,500$384.17

Colorado health insurance policies are broken down into the four metal tiers: Catastrophic, Bronze, Silver, and Gold. The higher tiers have the most expensive premiums but also smaller out-of-pocket maximums and deductibles.

A health insurance provider will take into account your age when determining the quote you will receive. Since you are more likely to use health services as you age, the average cost of health insurance will increase if you are older. For example, a 60-year-old would pay 112% more for a Silver policy when compared to a 40-year-old, or $567 more per month on average.

Average Cost of Health Insurance CO

Finding the Best Health Insurance Coverage in Colorado

The best health insurance coverage for you will be determined by your financial situation and medical needs. The two largest differentiating factors between all health plans are the monthly premiums and deductibles. You should carefully analyze these to determine what fits your health insurance needs and will provide the best coverage. Below we have provided guidelines to the four tiers available in Colorado.

Start with Silver Plans

Silver plans are an affordable middle ground policy that has modest premiums along with a deductible and out-of-pocket maximum that are between Bronze and Gold tiers. We recommend starting your healthcare search by evaluating Silver plans, as these are great for a variety of people unless you are extremely healthy, can absorb a very high deductible or know you will have a number of large medical expenses.

Silver plans are also the only health insurance plan that makes you eligible for cost-sharing reductions if you fall below 250% of the federal poverty level. These reductions can further decrease your copays, coinsurance, and deductibles and can sometimes provide more benefits than Gold metal tiers with lower premiums.

Gold Metal Plans: Great if You Anticipate High Medical Costs

Gold health plans are the highest tier offered in Colorado and have the most expensive monthly premiums. But, the policies also have the lowest deductibles, which can make it easier to begin coinsurance. For this reason, gold plans are the best option if you expect to have a number of medical costs that may be expensive. One such example is if you have diabetes and need monthly access to insulin, which can drive up medical costs very quickly.

Bronze and Catastrophic Plans: Best if You Are Healthy

The cheapest plans available for purchase are Bronze and Catastrophic and are best if you have low-income due to the affordable monthly premiums. These plans come with the highest deductibles and therefore are only recommended if you are in excellent health and can absorb a higher deductible. Both Bronze and Catastrophic plans provide coinsurance once the high deductible has been met. This means that it would require a large medical bill to reach the deductible level and may leave you bearing much more of the cost.

Bronze metal plans are available for purchase no matter your age, but Catastrophic plans can only be acquired if you are under the age of 30 or have an exemption.

Short-Term Health Insurance in Colorado

Short-term health insurance is available for purchase in Colorado directly from health insurance companies. In Colorado, this type of insurance provides health care coverage for a limited period of time — up to 12 months with the ability to renew for up to 36 months. Short-term health insurance can be useful if you need a more affordable solution than traditional health insurance. But, it is important to recognize that short-term health insurance policies usually do not cover the essential benefits that Affordable Care Act policies always cover. This can include services like maternity, mental health care, and prescription drugs.

Find Cheap Health Insurance Quotes in Your Area

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Best Cheap Health Insurance Companies in Colorado

There are currently 6 health insurance companies that provide policies through the state exchange in Colorado:

  • Bright Health Insurance Company
  • Cigna Health and Life Insurance Company
  • Colorado Choice Health Plans
  • Denver Health Medical Plan Inc.
  • HMO Colorado
  • Rocky Mountain HMO
  • Kaiser Foundation Health Plan of Colorado

Although all these insurers conduct business in the state, the county you live in will determine which companies and policies are available to you. For example, although Kaiser Foundation Health Plans provides plans in 48 Colorado counties, they do not offer policies in Adams County.

Cheapest Silver Plan by County

The cost of a policy can change depending on where you live. Therefore, when going to purchase a health plan, it's important to first identify which policies are available and affordable in your county. For example, the cheapest plan offered in Adams is the Cigna Connect Flex Silver 4000 while in Alamosa it is the KP Select CO Silver 4500/30. In the table below we have provided the lowest-cost Silver plans offered in each county of Colorado.

CountyCheapest Silver PlanPremium Adult Age 21Premium Adult Age 40Premium Adult Age 60
AdamsCigna Connect Flex Silver 4000$334.76$427.82$908.54
AlamosaKP Select CO Silver 4500/30$311.95$398.67$846.62
ArapahoeCigna Connect Flex Silver 4000$334.76$427.82$908.54
ArchuletaKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
BacaKP Select CO Silver 4500/30$311.95$398.67$846.62
BentKP Select CO Silver 4500/30$311.95$398.67$846.62
BroomfieldCigna Connect Flex Silver 4000$334.76$427.82$908.54
ChaffeeKP Select CO Silver 4500/30$311.95$398.67$846.62
CheyenneKP Select CO Silver 4500/30$311.95$398.67$846.62
Clear CreekCigna Connect Flex Silver 4000$334.76$427.82$908.54
ConejosKP Select CO Silver 4500/30$311.95$398.67$846.62
CostillaKP Select CO Silver 4500/30$311.95$398.67$846.62
CrowleyKP Select CO Silver 4500/30$311.95$398.67$846.62
CusterKP Select CO Silver 4500/30$311.95$398.67$846.62
DeltaKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
DenverCigna Connect Flex Silver 4000$334.76$427.82$908.54
DoloresKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
DouglasCigna Connect Flex Silver 4000$334.76$427.82$908.54
EagleKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
ElbertCigna Connect Flex Silver 4000$334.76$427.82$908.54
FremontKP Select CO Silver 4500/30$311.95$398.67$846.62
GarfieldKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
GilpinCigna Connect Flex Silver 4000$334.76$427.82$908.54
GrandKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
GunnisonKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
HinsdaleKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
HuerfanoKP Select CO Silver 4500/30$311.95$398.67$846.62
JacksonKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
JeffersonCigna Connect Flex Silver 4000$334.76$427.82$908.54
KiowaKP Select CO Silver 4500/30$311.95$398.67$846.62
Kit CarsonKP Select CO Silver 4500/30$311.95$398.67$846.62
La PlataKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
LakeKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
Las AnimasKP Select CO Silver 4500/30$311.95$398.67$846.62
LincolnKP Select CO Silver 4500/30$311.95$398.67$846.62
LoganKP Select CO Silver 4500/30$311.95$398.67$846.62
MesaMonument Health HMO Silver Deductible $4000/60%/Copay $35 - Individual$487.34$622.82$1322.64
MineralKP Select CO Silver 4500/30$311.95$398.67$846.62
MoffatKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
MontezumaKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
MontroseKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
MorganKP Select CO Silver 4500/30$311.95$398.67$846.62
OteroKP Select CO Silver 4500/30$311.95$398.67$846.62
OurayKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
ParkCigna Connect Flex Silver 4000$334.76$427.82$908.54
PhillipsKP Select CO Silver 4500/30$311.95$398.67$846.62
PitkinKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
ProwersKP Select CO Silver 4500/30$311.95$398.67$846.62
Rio BlancoKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
Rio GrandeKP Select CO Silver 4500/30$311.95$398.67$846.62
RouttKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
SaguacheKP Select CO Silver 4500/30$311.95$398.67$846.62
San JuanKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
San MiguelKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
SedgwickKP Select CO Silver 4500/30$311.95$398.67$846.62
SummitKP Select CO Silver 4000/30/HSA$243.74$311.51$661.52
WashingtonKP Select CO Silver 4500/30$311.95$398.67$846.62
WeldKP CO Silver 4500/30$327.68$418.78$889.33
YumaKP Select CO Silver 4500/30$311.95$398.67$846.62
Sample rates are monthly premiums.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.