BestHealth InsuranceColoradoBest Colorado Health Insurance (2023 Plans)
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BestHealth InsuranceColoradoBest Health Insurance in Colorado
Best Overall - Denver Health Medical Plan
Best for Low MOOP - Denver Health Medical Plan
Best Cheap - Denver Health Medical Plan
Best for Young Adults - Denver Health Medical Plan
Best for HMO - Denver Health Medical Plan
Best for EPO - Cigna
Best Overall for Health Insurance in Colorado
Denver Health Medical Plan is the best health insurance in Colorado. It received a MoneyGeek score of 75 out of 100. This insurer offers the cheapest rates and better-than-average claims processing in the comparison group. We analyzed Silver health plans in Colorado for this category, including 125 exclusive provider organization (EPO) and 1,065 health maintenance organization (HMO) plans.
pros
Most affordable rate among 18 insurers
0% claims denial rate
cons
Doesn’t offer the best MOOP score
Only offers three Silver HMO plans
COMPANY HIGHLIGHTS
Denver Health Medical Plan is our top pick for health insurance in Colorado. It offers 15 Silver HMO plans, with the most affordable premiums in the state, at an average of $345 per month.
Denver Health Medical Plan has an impressive 0% rate of claims denial, which guarantees that all valid requests for coverage will be accepted and not denied. Its average out-of-pocket maximum (MOOP) cost is $8,383. Although its MOOP cost is not the absolute lowest, it is one of the lowest in the state.
Plan Recommendations
We recommend the following Denver Health Medical Plans:
- Silver Standard Rx Copay: $334 per month on average ($7,500 MOOP)
- Elevate Colorado Option Silver: $334 per month on average ($8,550 MOOP)
- Silver Select: $366 per month on average ($9,100 MOOP)
Best Health Insurance in Colorado for Low Out-of-Pocket Costs
Denver Health Medical Plan is the best insurer for those looking for low out-of-pocket costs. The company received a MoneyGeek score of 88 out of 100. It stands out for its low MOOP costs, affordable premium and excellent claims processing. We evaluated Gold plans in Colorado, including 125 EPO and 565 HMO plans.
pros
Low maximum out-of-pocket (MOOP) costs
Affordable premiums
Excellent claims handling
cons
Limited plans
COMPANY HIGHLIGHTS
Denver Health Medical Plan is Colorado's most desirable health insurance provider for those seeking low maximum out-of-pocket costs. It has an average monthly cost of $312 and offers 15 Gold HMO plans. Notably, these come with the lowest cost of MOOP in the comparison group, which is $7,600. Plus, all legitimate claims are accepted, so members can be sure that payments will be covered with no issue.
Plan Recommendations
We recommend the following plans from Denver Health Medical plan:
- Gold Standard Rx Copay: Costs $322 per month on average ($7,000 MOOP)
- Elevate Colorado Option Gold: Costs $307 per month on average ($7,800 MOOP)
- Gold Select: Costs $307 per month on average ($8,000 MOOP)
Best Cheap Health Insurance in Colorado
In Colorado, Denver Health Medical Plan offers the cheapest health insurance at an average cost of $345 per month. The company earned a MoneyGeek score of 85 out of 100. To determine this score, we weighted plans based on low monthly premiums, meaning that while the monthly premiums are lower, you may incur higher out-of-pocket costs. We analyzed 125 EPO plans and 1,065 HMO plans to determine the score for this category.
If you're focused soley on cost, MoneyGeek also determined the cheapest health insurance in Colorado.
pros
0% claims denial rate
Most affordable rates
cons
Offers only Silver HMO plans
Lower MOOP score
COMPANY HIGHLIGHTS
Denver Health Medical Plan stands out for its affordable health insurance coverage in Colorado. The average cost of its plans is $345 a month, with a $8,383 MOOP cost. It provides 15 Silver HMO plans and has a great record for fairly handling claims, as seen through its 0% coverage denial rate. This gives you peace of mind that your claims will be processed quickly.
Plan Recommendations
We recommend the following plans from Denver Health Medical Plan:
- Silver Standard Rx Copay: Costs $334 per month on average ($7,500 MOOP)
- Elevate Colorado Option Silver: Costs $334 per month on average ($8,550 MOOP)
- Silver Select: Costs $366 per month on average ($9,100 MOOP)
Best Health Insurance for Young Adults in Colorado
With a MoneyGeek score of 88 out of 100, Denver Health Medical Plan is the best health insurance provider for young adults in Colorado. The company scored the highest for both 18 and 26-year-olds.
We reviewed Colorado's Bronze, Expanded Bronze and Catastrophic plans since these plans tend to have more affordable premiums but higher out-of-pocket costs. The eligibility for Catastrophic plans is for those under the age of 30 or who qualify for a hardship exemption. For this category, we evaluated 25 EPO Bronze plans, 85 HMO Bronze plans, 150 EPO Expanded Bronze plans, 865 HMO Expanded Bronze plans and 56 HMO Catastrophic plans.
pros
0% claims denial rate
Low MOOP cost
Offers the most affordable premiums
cons
Limited plan types
COMPANY HIGHLIGHTS
Colorado young adults fare best with the Denver Health Medical Plan. The company offers the most affordable premium to young adults at an average of $202 per month and a MOOP of $8,217, which is the lowest among the insurers we evaluated. Denver Health Medical Plan offers five HMO Bronze plans and 10 HMO Expanded Bronze plans. The provider stands out for its 0% claims denial rate, giving young adults the assurance that their claims will be processed.
Plan Recommendations
MoneyGeek recommends the following plans for young adults in Colorado
- Bronze HDHP: $203 per month on average for 26-year-olds and $181 per month for 18-year-olds ($7,000 MOOP)
- Elevate Colorado Option Bronze: Cost $201 per month on average for 26-year-olds and $179 per month for 18-year-olds ($9,100 MOOP)
- Bronze Standard Rx Copay: $202 per month on average for 26-year-olds and $180 per month for 18-year-olds ($8,550 MOOP)
Best Health Insurance by Plan Type in Colorado
Colorado health insurance providers offer various plan types, including EPO and HMO. Our analysis found that Denver Health Medical Plan has the best HMO plans available in Colorado, while Cigna has the best EPO plans. Our analysis only considers Silver plans, which tend to balance premiums and out-of-pocket costs. In Colorado, there are 125 EPO Silver plans and 1,065 HMO Silver plans available.
Best for HMO: Denver Health Medical Plan
COMPANY HIGHLIGHTS
Of the insurers we reviewed, Denver Health Medical Plan offers the most affordable HMO plans in the Centennial State. The company offers 15 HMO plans, and its plans cost an average of $345 a month, with an out-of-pocket maximum of $8,383. Best of all, it has an excellent claims management record, with a 0% claims denial rate, meaning all legitimate claims are paid.
Plan Recommendations
We recommend the following plans:
- Silver Standard Rx Copay: Costs $334 per month on average ($7,500 MOOP)
- Elevate Colorado Option Silver: Costs $334 per month on average ($8,550 MOOP)
Best for EPO: Cigna
COMPANY HIGHLIGHTS
Our data shows that Cigna is the best option for an EPO plan in Colorado due to its affordable premiums of $412 per month, low MOOP cost of $8,990 per year and excellent claims management score. There are 125 Silver EPO plans available through Cigna in the state.
Plan Recommendations
We recommend the following plans from Cigna:
- Cigna Connect Colorado Option Silver: Costs $415 per month on average ($8,550 MOOP)
- Cigna Connect Flex Silver 5500: Costs $410 per month on average ($9,100 MOOP)
How to Find the Best Health Insurance for You in Colorado
The best health insurance for you in Colorado will depend on your individual health care needs, budget and preferences. Various plans are available, ranging from high-premium and low-deductible plans to low-premium, high-deductible plans. It’s important to consider the details of each plan before buying health insurance coverage. To find the best plan for you in Colorado, here are some tips to consider.
Understand when a health insurance plan will cover you
HMO is the most common type of health plan. It tends to be cheaper than other plan types and requires you to stay within your provider network to have services covered, except in an emergency. In order to see a specialist, you'll need a referral. EPO is similar to HMOs in that you have to stay in the network, except in an emergency, but you may not always need a referral to see a specialist. There are 425 EPO and 2,636 HMO plans in Colorado.
Weigh the cost of premiums vs. the cost of care
Low-premium health insurance plans may appear to be a great option that can yield savings in the short term, but these plans usually include a significantly higher out-of-pocket cost. This means that you may spend more over time. Take Denver's Silver Standard Rx Copay plan, which provides coverage for around $334 per month and has a $7,500 MOOP. Its Gold Select HMO plan has a lower monthly premium of about $307, accompanied by an $8,000 MOOP.
Consider Colorado Medicare or Medicaid if You’re Eligible
If you are 65 years of age or older or have a qualifying illness or disability, you might be eligible for Medicare, a government health care program. Although there is a cost associated with Medicare, it is usually less expensive than taking out a private health insurance plan from the exchange in Colorado.
Medicare plans include the following:
- Part A: Hospital coverage that pays for hospitalization, hospice and home health care.
- Part B: Medical coverage that pays for doctor visits, outpatient care, preventive services, mental health services and durable medical equipment.
- Part D: Prescription drug coverage that covers prescription drugs.
Medicaid is a government health insurance program that is available to those with low income, certain disabilities and other qualifiers. To be eligible for Medicaid, an individual's income must be 138% below the Federal Poverty Level. Other qualifications for Medicaid include being pregnant or a senior, having a disability or receiving Supplemental Security Income (SSI). We analyzed the best Medicare Advantage and the best Medicare Supplement in Colorado to help you choose the best plan for your needs.
Frequently Asked Questions About Health Insurance in Colorado
People shopping for health insurance in Colorado usually have questions about costs and availability. We answered the most commonly asked questions to help you find the best plan that meets your individual needs.
About Mark Fitzpatrick
