Health Insurance

Best Cheap Health Insurance in Colorado 2020

Find Cheap Health Insurance Quotes in Colorado

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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.

After comparing all health insurance plans from the marketplace, we found that the Anthem Silver Pathway X HMO 5500 was the cheapest Silver plan available in Colorado — though it's only offered in 14 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 planDeductibleMaximum out-of-pocketMonthly cost for a 40-year-old
BronzeAnthem Bronze Pathway X HMO 8150$8,150$8,150$262
SilverAnthem Silver Pathway X HMO 5500$5,500$7,000$329
GoldKP Select CO Gold 1750/20$1,750$7,800$378

Colorado health insurance policies are broken down into the three metal tiers: 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 113% more for a Silver policy when compared to a 40-year-old, or $476 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 health-care 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 plans: Great if you anticipate high nedical 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 plans: Best if you are healthy

The cheapest plans available for purchase are Bronze 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. Bronze 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.

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

  • Bright Health
  • Denver Medical Plan
  • Oscar
  • Friday Health Plans
  • Cigna
  • Kaiser Permanente Colorado
  • Anthem

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 Silver 1, while in Boulder County it is the Cigna Connect Flex Silver 5000. In the table below, we have provided the lowest-cost Silver plans offered in each county of Colorado.

CountyCheapest planAge 40Couple, age 40
Adams CountySilver 1$351$702
Arapahoe CountySilver 1$351$702
Baca CountyFriday Silver X$411$821
Bent CountyFriday Silver X$411$821
Boulder CountyCigna Connect Flex Silver 5000$361$721
Broomfield CountySilver 1$351$702
Cheyenne CountyFriday Silver X$411$821
Clear Creek CountyKP CO Silver 4500/20$380$760
Crowley CountyFriday Silver X$411$821
Denver CountySilver 1$351$702
Douglas CountySilver 1$351$702
Eagle CountyAnthem Silver Mountain Enhanced X HMO 5500$449$898
El Paso CountySilver 1$360$720
Elbert CountySilver 1$351$702
Gilpin CountyKP CO Silver 4500/20$380$760
Grand CountyAnthem Silver Pathway X HMO 5500$522$1,044
Huerfano CountyFriday Silver X$411$821
Jackson CountyAnthem Silver Pathway X HMO 5500$522$1,044
Jefferson CountySilver 1$351$702
Kiowa CountyFriday Silver X$411$821
Kit Carson CountyFriday Silver X$411$821
Lake CountyAnthem Silver Pathway X HMO 5500$522$1,044
Larimer CountyAnthem Silver Pathway X HMO 5500$367$735
Las Animas CountyFriday Silver X$411$821
Lincoln CountySilver 1$388$776
Logan CountyAnthem Silver Pathway X HMO 5500$418$837
Morgan CountyAnthem Silver Pathway X HMO 5500$418$837
Otero CountyFriday Silver X$411$821
Park CountyAnthem Silver Pathway X HMO 5500$441$881
Phillips CountyAnthem Silver Pathway X HMO 5500$418$837
Prowers CountyFriday Silver X$411$821
Pueblo CountyAnthem Silver Pathway X HMO 5500$329$658
Routt CountyAnthem Silver Pathway X HMO 5500$522$1,044
Sedgwick CountyAnthem Silver Pathway X HMO 5500$418$837
Summit CountyPeak Silver 2$348$696
Teller CountyKP Select CO Silver 4500/20$363$726
Washington CountyAnthem Silver Pathway X HMO 5500$418$837
Weld CountyAnthem Silver Pathway X HMO 5500$363$726
Yuma CountyAnthem Silver Pathway X HMO 5500$418$837
Sample rates are monthly premiums.
Sterling Price

Sterling Price is a research analyst at ValuePenguin specializing in health and life insurance. He graduated from Syracuse University with a bachelors degree in Finance and Accounting and has previous experience as a licensed life insurance representative.

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.