Health Insurance

Best Cheap Health Insurance in Colorado 2023

Best Cheap Health Insurance in Colorado 2023

For 2023, the average cost of health insurance in Colorado is $418 per month for a 40-year-old.

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In most counties, the cheapest Silver health insurance plan in Colorado is from Anthem Blue Cross Blue Shield, which has the most affordable Silver plan in 54% of the state's counties.

The Connect for Health Colorado state insurance marketplace offers Affordable Care Act (ACA) health plans for purchase. But if your household income falls below 138% of the federal poverty level, you can acquire health insurance through the federally funded Medicaid program.

Cheapest health insurance by metal tier

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

Metal tier
Cheapest plan
Monthly cost
Out-of-pocket maximum
BronzeBronze Standard Rx Copay$252$8,550$8,550
Expanded BronzeElevate Colorado Option Bronze$251$7,000$9,100
SilverElevate Colorado Option Silver$334$5,000$8,550
GoldElevate Colorado Option Gold$307$1,600$7,800

Sample policies are for a 40-year-old.

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

A health insurance provider will take into account your age when determining the rate you will receive. Since you are more likely to use health services as you age, the average cost of health insurance will be higher if you are older.

For example, a 60-year-old would pay more than twice as much for a Silver policy compared to a 40-year-old. That's $549 more per month. The price difference is less severe among younger policyholders. For example, a 40-year-old would pay 28% more than a 20-year-old for a Silver plan, which is $106 more per month.

Cheapest health insurance in Colorado

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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 health plans are the monthly premiums and deductibles. You should carefully analyze these to determine what fits your health insurance needs and what will provide the best coverage. Below we have provided guidelines for the tiers available in Colorado.

Start with Silver plans

A Silver plan is an affordable middle-ground policy with modest premiums. Silver plans often have deductibles and out-of-pocket maximums that fall between the Bronze and Gold tiers. We recommend starting your search by evaluating Silver plans because they’re ideal for most people unless you are extremely healthy, can absorb a very high deductible or know you will have a number of large medical expenses.

Plus, Silver plans are the only health insurance plans 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 better benefits than Gold plans.

The cheapest Silver plan in Colorado is the Elevate Colorado Option Silver. Compare all tiers in Colorado above.

Gold plans: Great if you anticipate high medical costs

Gold is the highest tier offered in Colorado and sometimes has the most expensive monthly costs. But the policies also have the lowest deductibles, which can make the cost of health care lower because you can start paying coinsurance rates after less out-of-pocket spending.

For this reason, Gold plans are the best option if you expect to have high medical costs. For example, if you have diabetes, monthly access to insulin can drive up medical costs very quickly.

The cheapest Gold plan in Colorado is the Elevate Colorado Option Gold. Compare all tiers in Colorado above.

Bronze plans: Best if you are healthy

The cheapest health insurance tier is typically Bronze, and for people who are young and healthy, this tier is a good choice because of the low monthly costs. These plans often have the highest deductibles and therefore are only recommended if you are in excellent health and can pay for much of your medical care out of pocket until you reach your deductible.

However, the plan's preventive care benefits can help you stay on top of routine health care, and the insurance policy will give you some financial protection if you unexpectedly need significant health care.

The cheapest Bronze plan in Colorado is the Bronze Standard Rx Copay. Compare all tiers in Colorado above.

Short-term health insurance in Colorado

Short-term health insurance is not available for purchase in Colorado. The state changed its rules for short-term health insurance in 2019, and although short-term health insurance is permitted in Colorado, insurers stopped offering short-term plans in the state.

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 same essential benefits as ACA policies.

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Health insurance rate changes in Colorado

The average cost of health insurance in Colorado increased 14% for 2023 across Bronze, Silver and Gold tiers.

The biggest price change was a 19.6% price increase in Silver plans. This is the second year in a row that the cost for Silver-level coverage has risen, but this increase is significantly greater than the 1.5% price change from 2021 to 2022. As a result, a Silver plan costs about $80 per month more for 2023 than for 2022.

Metal tier

Monthly rates are for a 40-year-old adult.

Health insurance companies in Colorado

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

  • Anthem Blue Cross Blue Shield
  • Cigna
  • Denver Health Medical Plan Elevate
  • Elevate Colorado Option
  • Friday Health Plans
  • Kaiser Permanente
  • Rocky Mountain Health Plans

Cheapest Silver plan by county

The cost of health insurance can change depending on where you live. Therefore, when purchasing a health plan, it's important to first identify which policies are available and affordable in your county. For example, the cheapest Silver plan offered in Denver County is from Elevate, while in El Paso County, it is from Kaiser Permanente. In the table below, we have listed the cheapest Silver plans offered in counties across the state.

Cheapest Silver plan
AdamsElevate Colorado Option Silver$334$668
ArapahoeElevate Colorado Option Silver$334$668
BacaAnthem Silver Pathway X HMO 2800 $0 Select Drugs$502$1,004
BentAnthem Silver Pathway X HMO 2800 $0 Select Drugs$502$1,004
BoulderKP Select CO Silver 5000/25$364$727
BroomfieldKP Select CO Silver 5000/25$364$727
CheyenneAnthem Silver Pathway X HMO 2800 $0 Select Drugs$502$1,004
Clear CreekKP Select CO Silver 5000/25$364$727
CrowleyAnthem Silver Pathway X HMO 2800 $0 Select Drugs$502$1,004
DenverElevate Colorado Option Silver$334$668
DouglasKP Select CO Silver 5000/25$364$727
EagleAnthem Colorado Option Silver Mountain Enhanced Std$499$997
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Monthly costs are for 40-year-old adults.


Health insurance rates and plans were pulled from the Connect for Health Colorado state health insurance exchange. Using the premiums, averages were determined for variables such as metal tier, age and county.

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.