When someone tells you that your rates are going up, but not nearly as much as expected, it may or may not be a reason to celebrate.  But for Colorado citizens, whose healthcare insurance rates have seen dramatic increases over the past decade, their 2012 average increase of 9.4 percent is a victory.

According to a recent article in the Denver Post, the Colorado insurance rates increase is seen as a victory for proponents of ObamaCare.  The Affordable Care Act now requires any state that increases rates by more than 10 percent to fact a review board, which may explain the 9.4 percent increase in Colorado’s healthcare insurance rates.

To get some perspective on this issue, it’s important to note that the state of Colorado has seen rate increases as high as 19 percent in 2003, and just last year the rates went up by 14.3 percent, so this year’s increase is seen as a win for consumers and businesses.  When $600 million is being spent in the private healthcare sector, a percentage point or two can represent several millions dollars in premiums.

An article that recently appeared on the website for HealthQuotes.com, “Healthcare Insurance Rates in Colorado Still Considered “Good” Despite 9.4 Percent Increase,” asserts that this less aggressive increase might be a boon to the Colorado economy.  This trend may continue in 2014, when the Affordable Care Act puts more price protection measures into effect.  Lower out-of-pocket costs will be a welcome change for consumers, and lower healthcare insurance rates could encourage Colorado employers to start hiring.

If you have been searching for affordable healthcare insurance rates in Colorado, it may now be possible to purchase an individual health plan that fits into your monthly budget.  Rather than searching for a plan on your own, which can be extremely time consuming, why not speak with a broker?  An experienced Colorado health insurance broker will know the details of every health insurance plan and can recommend one that meets your specific healthcare needs. A health insurance broker in Colorado will help you find out about the best healthcare insurance rates and learn the details about what each plan covers.  A broker can also help you put together the best group plan for your small business.

Michael Horvat is a health insurance expert and broker with HealthQuotes.com in Colorado Springs, CO.  If you are searching for Colorado health insurance plans or quotes, please give Michael a call anytime at 800-345-0789.