Best Cheap Health Insurance in Colorado 2024

Cigna's Connect Colorado Option Silver costs as little as $401 per month and is the best cheap health insurance in Colorado.

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A Silver plan is best for most people, since it offers good coverage at a relatively low rate. The Connect Colorado Option Silver from Cigna is up to 25% cheaper per month compared to the state average. Elevate Health Plans is also a good option for a Bronze or Silver plan, since it has the cheapest plans in Colorado for those tiers.

Colorado health insurance costs an average of $535 per month for a 40-year-old with a Silver plan.

Kaiser Permanente is the best health insurance company in Colorado. Kaiser gets a perfect 5-star rating from HealthCare.gov.

How much does health insurance cost in Colorado?

Health insurance costs an average of $535 per month in CO for a 40-year-old with a Silver plan. However, your age and the plan you choose affect your rates. Younger people typically pay less each month. And lower plan tiers like Bronze are usually cheaper but offer less coverage.

Colorado health insurance rates by plan tier

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In Colorado, it usually costs more to buy a Silver plan than a Gold plan, even though the Gold plans have better coverage. If you're looking at a Silver plan, compare your options for Gold, too. You might find that you can get more coverage at a lower price. Also, be sure to check whether you qualify to reduce your deductibles, coinsurance and copays, also called cost-sharing reductions, on the Silver plan. They're only available on Silver plans, but they could give you better coverage than a Gold plan.


Cheapest health insurance in Colorado

The best and most affordable health plan in Colorado is the Connect Colorado Option Silver from Cigna. But if you want a different coverage level than Silver, Elevate Health Plans has the cheapest Bronze and Gold plans.

Tier
Cheapest plan
Monthly cost
Bronze Elevate Health Plans Bronze HDHP $297
Silver Cigna Connect Colorado Option Silver $401
Gold Elevate Health Plans Colorado Option Gold $362

Monthly costs are for a 40-year-old.

Despite Cigna having the cheapest Silver plan in the state, it's not always the cheapest option, depending on where you live. In much of Eastern Colorado, the Colorado Option Silver Pathway Standard plan from Elevance Health, formerly Anthem, is the cheapest Silver plan.


Finding your best health insurance coverage in Colorado

In Colorado, the best health insurance plan for you depends on your monthly budget and how much medical care you need. Silver plans are a good option for most people, but a Gold or Bronze plan can be the best option in some circumstances.

Gold plans: Best for people with numerous health concerns

Gold plans give you the most coverage. If you need frequent, complex or speciality medical care, Gold plans can save you money overall. That's because they usually have the lowest deductibles, coinsurance and copays, which means you pay less for your health care. And in Colorado, Gold plans often cost less than Silver plans.

Silver plans: Best for people with average health concerns

Silver plans are best for most people, since they offer good coverage and affordable rates. In Colorado, Silver plans tend to have the highest monthly rates. It can be a good idea to compare Silver and Gold plans, because you might find that a Gold plan is cheaper but gives you more coverage.

However, you might be able to lower your health insurance deductible, copays and coinsurance with cost-sharing reductions that are only available on Silver plans. If you qualify for these reductions, compare the coverage for a Silver plan with a Gold plan. A Silver plan with cost-sharing reductions might actually have better coverage than a Gold plan.

Bronze plans: Best for people with few health concerns

Bronze plans have the cheapest monthly rates but require you to pay for a higher share of your medical bills. Bronze plans can be good if you are healthy and don't need much medical care. But be sure that you have good savings so you can pay the high out-of-pocket maximum if you are seriously ill or get hurt.

Medicaid: Best for people with low incomes

If you make less than about $20,000 as a single person or $41,000 as a family of four, Medicaid might be the best health insurance option. Medicaid is a federal program reserved for people with low incomes. You might also qualify if you are pregnant or under age 19, even if you make more.


Are health insurance rates going up in Colorado?

The average cost of health insurance in Colorado increased by about 6% on average between 2023 and 2024.

Silver and Bronze plans increased the most, by an average of 9% each. But Gold plans got slightly cheaper from 2023 to 2024, making them an even more appealing option over Silver plans.

Tier
2022
2023
2024
Change (2023 vs. 2024)
Bronze$321$354$3869%
Silver$409$489$5359%
Gold$420$465$459-1%

Monthly costs are for a 40-year-old.

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Best cheap health insurance companies in Colorado

Kaiser Permanente is the best health insurance company in Colorado. The company has a perfect five-star rating on HealthCare.gov. The high plan quality and customer satisfaction might explain why Kaiser Permanente is the most popular health insurance company in Colorado, making up about half of all health insurance plans in the state.

Kaiser Permanente also tends to have low average rates, so it can be a good choice for budget shoppers, even though it doesn't sell the cheapest health insurance in CO.

Cheapest health insurance companies in Colorado

Company
Cost
Cigna logo
Cigna$434
Kaiser Permanente logo
Kaiser Permanente$448
Elevate Health Plans (from Denver Health Medical Plans) logo
Elevate Health Plans$453
Select Health logo
Select Health$462
Rocky Mountain Health Plans logo
Rocky Mountain Health Plans$489
Show All Rows

Average monthly cost for a 40-year-old buying a Silver plan in CO.


Cheapest health insurance plan by Colorado county

The cost of health insurance changes depending on where you live. Cigna sells the cheapest Silver plan in the CO, but if you live in Eastern Colorado, Elevance Health (formerly Anthem) may have the cheapest plan.

County
Cheapest plan
Monthly rate
AdamsCigna Connect Option Silver$404
ArapahoeCigna Connect Option Silver$404
BacaAnthem Option Silver Pathway Standard$593
BentAnthem Option Silver Pathway Standard$593
BoulderCigna Connect Option Silver$412
Show All Rows

Cheapest Silver plan with rates for a 40-year-old. These 39 counties include 90% of Colorado's population.

Short-term health insurance in Colorado

You can't buy short-term health insurance in Colorado. The state changed its rules for short-term health insurance in 2019. Although short-term health insurance is allowed in Colorado, no insurance companies sell short-term policies.


Frequently asked questions

What is the cheapest health insurance in Colorado?

The cheapest Silver plan in Colorado is the Connect Colorado Option Silver from Cigna. It costs as little as $401 per month, which is 25% less than the state average cost for a Silver plan. If Cigna isn't available in your area, the Colorado Option Silver Pathway Standard plan from Anthem could be the cheapest option.

What is the best health insurance company in Colorado?

Kaiser Permanente is the best health insurance company in CO. It has a perfect five-star rating from HealthCare.gov and consistently high customer satisfaction reviews. Kaiser Permanente also has low rates, with a Silver plan costing an average of $448 per month in CO. And Kaiser Permanente is the most popular health insurance company in Colorado. Its plans make up nearly half of all health insurance plans in the state.

How much does Obamacare cost in Colorado?

A Silver policy from Colorado's state marketplace costs an average of $535 per month. Plans sold on the Connect for Health Colorado site are often called Obamacare plans or Affordable Care Act plans. These plans are often the best health insurance if you don't get coverage from a job or qualify for Medicare or Medicaid.


Methodology

Health insurance rates and plans for 2024 were pulled for 39 counties in Colorado that account for 90% of the state's population. All rates and plan information come 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.