Updated: May 22, 2024
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Choosing a metal tier affects your health insurance premiums and out-of-pocket costs. In Colorado, Denver Health Medical Plan offers the most affordable Bronze and Gold plans, while Rocky Mountain Health Plans provides the lowest-cost Silver option.
If you want to balance monthly premiums with quality coverage, MoneyGeek also found the best health insurance plans in Colorado.
CheapestHealth InsuranceColoradoMost Affordable Health Insurance in Colorado
Why Trust MoneyGeek? We downloaded plan data for Colorado directly from the Centers for Medicare and Medicaid Services (CMS).
Plan data was updated with the CMS exchange data released in October, the latest available data for the 2024 enrollment period.
Health insurance costs and associated benefits vary by metal tier. Some metal tiers charge higher monthly premiums for comprehensive coverage with lower out-of-pocket expenses, while others have lower premiums with higher deductibles and costs.
The most affordable option in the Silver tier — the most common plan type in Colorado and the plan that best balances costs and coverages — is the RMHP Monument One Colorado Option Silver offered by Rocky Mountain Health Plans at a monthly cost of $412. Those seeking to save on premiums at the risk of higher out-of-pocket expenses may also want to consider Bronze plans.
Here are the most affordable health insurance plans from each metal tier:
Catastrophic health plans are only available to people under age 30 or individuals with a qualifying health exemption.
Explore cheap health insurance options to find affordable coverage catering to a variety of needs and budgets.
| Expanded Bronze | PlanElevate Health Plans Bronze HDHP | CompanyDenver Health Medical Plan | Monthly Cost$297 | Maximum Out-of-Pocket$7,100 |
| Bronze | PlanCigna Connect Flex Bronze 9450 Rx Copay | CompanyCigna | Monthly Cost$355 | Maximum Out-of-Pocket$9,450 |
| Gold | PlanElevate Health Plans Colorado Option Gold | CompanyDenver Health Medical Plan | Monthly Cost$362 | Maximum Out-of-Pocket$8,700 |
| Silver | PlanRMHP Monument One Colorado Option Silver | CompanyRocky Mountain Health Plans | Monthly Cost$412 | Maximum Out-of-Pocket$9,450 |
In Colorado's health insurance marketplace, consumers can select from various metal tiers, including Bronze, Expanded Bronze, Silver and Gold. Each tier represents a level of coverage and associated cost-sharing between the insurer and policyholder. Generally, Bronze plans have the lowest premiums but higher out-of-pocket expenses. As you move to more valuable metals, premiums increase while out-of-pocket costs tend to decrease.
Individuals earning below 250% of the Federal Poverty Level can qualify for cost-sharing reductions (CSR) Silver plans. These reductions lower deductibles, copayments and co-insurance, making health care more affordable.
The most affordable Silver plan in Colorado is the RMHP Monument One Colorado Option Silver offered by Rocky Mountain Health Plans, costing $412 monthly. The three most affordable Silver health plans available in Colorado are:
Silver plans are ideal for individuals who want a balance between monthly premiums and out-of-pocket costs when seeking health care. These plans are an excellent middle ground for those who expect moderate health expenses. Cost-sharing reductions, available for those who qualify, can significantly lower the amount you pay for deductibles, copayments and co-insurance, making these Silver plans even more economical for eligible enrollees.
| Rocky Mountain Health Plans | Monthly Cost$412 | Maximum Out-of-Pocket$9,450 | PlanRMHP Monument One Colorado Option Silver |
| Denver Health Medical Plan | Monthly Cost$417 | Maximum Out-of-Pocket$9,450 | PlanElevate Health Plans Colorado Option Silver |
| Cigna | Monthly Cost$419 | Maximum Out-of-Pocket$9,450 | PlanCigna Connect Colorado Option Silver |
| Select Health | Monthly Cost$440 | Maximum Out-of-Pocket$9,450 | PlanSelect Health Value Silver $3200 Medical Deductible |
| Kaiser Permanente | Monthly Cost$441 | Maximum Out-of-Pocket$9,450 | PlanKP CO Silver 5000/25 |
The most affordable Gold tier health plan in Colorado is the Elevate Health Plans Colorado Option Gold offered by Denver Health Medical Plan at a monthly cost of $362. The three most affordable Gold plans in Colorado are:
Gold plans are ideal for customers who expect to need frequent medical care. They offer a balance of higher monthly premiums with lower costs when you receive medical treatment.
| Denver Health Medical Plan | Monthly Cost$362 | Maximum Out-of-Pocket$8,700 | PlanElevate Health Plans Colorado Option Gold |
| Rocky Mountain Health Plans | Monthly Cost$393 | Maximum Out-of-Pocket$8,700 | PlanRMHP Monument One Colorado Option Gold |
| Cigna | Monthly Cost$420 | Maximum Out-of-Pocket$8,700 | PlanCigna Connect Colorado Option Gold |
| Kaiser Permanente | Monthly Cost$434 | Maximum Out-of-Pocket$8,700 | PlanKP Colorado Option Gold |
| Anthem Blue Cross and Blue Shield | Monthly Cost$437 | Maximum Out-of-Pocket$8,700 | PlanAnthem Colorado Option Gold Pathway Essentials Std |
In Colorado, the most affordable option in the Bronze tier is the Cigna Connect Flex Bronze 9450 Rx Copay from Cigna, with a monthly cost of $355. Notably, this is the only Bronze plan available in Colorado, offering a straightforward choice for residents looking for this level of coverage.
Bronze plans are typically suited for individuals who prioritize lower monthly premiums. They are ideal for those who are generally healthy and don't expect to need significant medical care throughout the year but still want coverage for major health care events. However, it's important to consider that purchasing a Bronze plan will mean paying higher out-of-pocket costs when seeking medical treatment.
| Cigna | Monthly Cost$355 | Maximum Out-of-Pocket$9,450 | PlanCigna Connect Flex Bronze 9450 Rx Copay |
The most affordable plan in the Expanded Bronze tier in Colorado is Elevate Health Plans Bronze HDHP from Denver Health Medical Plan, with a monthly cost of $297. The three most affordable Expanded Bronze plans in Colorado are:
Expanded Bronze plans are designed for individuals who don't expect to need extensive health care services but still want coverage for significant health events or emergencies.
| Denver Health Medical Plan | Monthly Cost$297 | Maximum Out-of-Pocket$7,100 | PlanElevate Health Plans Bronze HDHP |
| Denver Health Medical Plan | Monthly Cost$300 | Maximum Out-of-Pocket$9,450 | PlanElevate Health Plans Colorado Option Bronze |
| Rocky Mountain Health Plans | Monthly Cost$319 | Maximum Out-of-Pocket$9,450 | PlanRMHP Monument One Colorado Option Bronze |
| Kaiser Permanente | Monthly Cost$332 | Maximum Out-of-Pocket$9,450 | PlanKP CO Bronze 8500/50 |
| Kaiser Permanente | Monthly Cost$338 | Maximum Out-of-Pocket$9,450 | PlanKP Select CO Bronze 8500/50 |
The most cost-effective Catastrophic health plan in Colorado is the Anthem Catastrophic Pathway Essentials HMO 9450, offered by Anthem Blue Cross and Blue Shield at a monthly cost of $215. The cheapest options for Catastrophic plans in the state are:
Catastrophic plans are only available to adults under 30 or those who qualify for a hardship exemption. These plans have even lower monthly premiums than Expanded Bronze plans but higher out-of-pocket costs. Catastrophic plans aren't recommended for individuals who need routine medical care.
| Anthem Blue Cross and Blue Shield | Monthly Cost$215 | Maximum Out-of-Pocket$9,450 | PlanAnthem Catastrophic Pathway Essentials HMO 9450 |
| Kaiser Permanente | Monthly Cost$222 | Maximum Out-of-Pocket$9,450 | PlanKP Select CO Catastrophic |
| Kaiser Permanente | Monthly Cost$237 | Maximum Out-of-Pocket$9,450 | PlanKP CO Catastrophic |
| Anthem Blue Cross and Blue Shield | Monthly Cost$245 | Maximum Out-of-Pocket$9,450 | PlanAnthem Catastrophic Pathway HMO 9450 |
Cost-sharing reductions (CSRs) lower the amount you pay for deductibles, copayments and co-insurance for Silver health insurance plans. To qualify, your income must be between 100% and 250% of the Federal Poverty Level.
For example, without CSRs, the Maximum Out-of-Pocket cost might be $7,500. However, with a high level of cost-sharing reductions, the Max Out-of-Pocket could decrease to $2,500, demonstrating significant potential savings for eligible enrollees in their healthcare expenses.
In Colorado, Health Maintenance Organization (HMO) plans are the most popular health care plan type. Exclusive Provider Organization (EPO) plans are also available to those seeking an alternative.
The most affordable options by plan type in Colorado are:
| Rocky Mountain Health Plans | Monthly Cost$412 | Maximum Out-of-Pocket$9,450 | PlanRMHP Monument One Colorado Option Silver |
| Denver Health Medical Plan | Monthly Cost$417 | Maximum Out-of-Pocket$9,450 | PlanElevate Health Plans Colorado Option Silver |
| Kaiser Permanente | Monthly Cost$441 | Maximum Out-of-Pocket$9,450 | PlanKP CO Silver 5000/25 |
| Kaiser Permanente | Monthly Cost$445 | Maximum Out-of-Pocket$9,450 | PlanKP Colorado Option Silver |
| Kaiser Permanente | Monthly Cost$450 | Maximum Out-of-Pocket$9,450 | PlanKP CO Silver 4500/30 RX Copay |
In Colorado, the most common type of health insurance plan is the Health Maintenance Organization (HMO) plan. Exclusive Provider Organization (EPO) plans are also available in the state. Here are the distinctions between these plan types:
Health Maintenance Organization (HMO): HMO plans typically require members to choose a primary care physician (PCP) and obtain referrals to see specialists, which can limit flexibility but also encourage coordinated care. These plans usually have lower premiums and out-of-pocket costs but come with the limitation of staying within the plan's network of providers to receive coverage.
Exclusive Provider Organization (EPO): EPO plans allow members to seek services from any provider within the plan's network without needing a referral, offering a balance between flexibility and costs. The tradeoff is that, like HMOs, EPOs typically provide no coverage for out-of-network care except in emergencies, which may result in higher out-of-pocket costs if a member goes outside the network.
Health insurance rates and availability of certain plans vary by county within Colorado, reflecting differences in the local health care market and insurance regulations. For example, the most affordable health care plans for the largest and smallest counties in the state are:
The following table displays available plans in each county in Colorado.
| Kaiser Permanente | Monthly Cost$422 | Maximum Out-of-Pocket$9,450 | PlanKP Select CO Silver 5000/25 |
| Kaiser Permanente | Monthly Cost$429 | Maximum Out-of-Pocket$9,450 | PlanKP Colorado Option Silver |
In Colorado, the cost of health insurance can vary significantly depending on your age. For example, an 18-year-old pays $352 monthly for a Silver plan, while a 60-year-old pays $1,046 for the same plan. That's a difference of $694.
Metal tiers also affect how much you pay for health insurance. For instance, a 40-year-old with a Bronze plan pays $355 per month, while someone the same age with a Gold plan is charged $460. That's $105 more for a plan with more coverage and lower out-of-pocket costs.
Colorado has insurance options available for a variety of health care needs. MoneyGeek broke down coverage options in Colorado, including private insurance with different levels of coverage, Medicaid and Medicare.
In Colorado, the open enrollment period for purchasing private health insurance typically runs from November 1 to January 15 annually. During this time, residents can shop for, compare and buy health insurance plans without needing a qualifying event. If you miss the deadline, you generally have to wait until the next open enrollment period to enroll unless you experience a qualifying life event — like marriage, birth or loss of other coverage — which makes you eligible for a special enrollment period (SEP). During an SEP, you can enroll in or change your health plan outside the standard open enrollment window.
Medicaid is a public health care program in the United States that provides medical benefits to low-income individuals and families. In Colorado, eligibility for Medicaid is determined by many factors, including income, household size, disability status and other state-specific criteria. Medicaid covers a variety of health care services, including doctor visits, hospital stays and long-term care. The program is jointly funded by the federal and state governments, with each state administering its own Medicaid program within federal guidelines.
Medicare is a federal health care program primarily for individuals aged 65 and older, though it also covers certain younger people with disabilities and individuals with end-stage renal disease (ESRD) or amyotrophic lateral sclerosis (ALS). Medicare is divided into several parts: Part A covers inpatient hospital stays, skilled nursing care and some home health care services. Part B includes outpatient care, doctor's services and preventive services. Part C, known as Medicare Advantage, offers alternative plans through private companies that contract with Medicare, while Part D covers prescription drug benefits. Additionally, Medicare Supplement (Medigap) policies can help cover out-of-pocket costs from Parts A and B.
For individuals seeking more coverage, MoneyGeek found the best Medicare Advantage Plans in Colorado and the best Medicare Supplement plans in Colorado.
When looking for health insurance, you may have questions about cost and availability. MoneyGeek responded to frequently asked questions about cheap private health insurance in Colorado to help you learn more.
The cheapest silver plan in Colorado for this year is the RMHP Monument One Colorado Option Silver by Rocky Mountain Health Plans, with a monthly cost of $412. The cheapest gold plan in Colorado is the Elevate Health Plans Colorado Option Gold priced at $362 per month, offered by Denver Health Medical Plan.
Although you'll pay a lower monthly premium for a cheap health insurance plan, you may pay higher out-of-pocket costs when accessing health care services. More expensive plans cover more comprehensive services and considerably lower your out-of-pocket costs.
About Mark Fitzpatrick
Mark Fitzpatrick has analyzed the property and casualty insurance market for over five years, conducting original research and creating personalized content for every kind of buyer. Currently, he leads P&C insurance content production at MoneyGeek. Fitzpatrick has been quoted in several insurance-related publications, including CNBC, NBC News and Mashable.
Fitzpatrick earned a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He is passionate about using his knowledge of economics and insurance to bring transparency around financial topics and help others feel confident in their money moves.
