JOINT RELEASE: GOP CONGRESS CAUSES HEALTH PREMIUMS TO DOUBLE, 75,000 COULD LOSE COVERAGE

The following information was released by the Colorado Senate Democrats:

Written By Senate Democrats

Increase would have been much higher without Colorado Democrats special session legislation which preserved coverage for nearly 30,000 Coloradans

DENVER, CO Representative Kyle Brown and Senator Kyle Mullica, chairs of the House and Senate Health and Human Services committees, today released the following statements after the Division of Insurance announced that 2026 health care premium rates will increase by 101-percent due to Congress's failure to continue the enhanced premium tax credits.

"Congressional Republicans' refusal to extend the enhanced premium tax credits is doubling health insurance costs for hundreds of thousands of Coloradans," said Rep. Kyle Brown, D-Louisville, Chair of the House Health and Human Services Committee. "Costs are rising for everyone, and 75,000 Coloradans will lose their health care coverage because Gabe Evans, Jeff Hurd, Jeff Crank and Lauren Boebert failed to act. Our legislation during the special session is helping to blunt these rate hikes and prevent tens of thousands of Coloradans from losing their health care, but Congress must act now to extend the tax credits or hardworking families will pay thousands of dollars more for health care next year."

"Congressional Republicans' failure to extend enhanced premium tax credits means everyday Coloradans will pay the price," said Sen. Kyle Mullica, D-Thornton, Chair of the Senate Health and Human Services Committee. "Hundreds of thousands of Coloradans will soon be forced to spend more of their paycheck on essential health care, with thousands expected to lose their coverage altogether. Earlier this year, Colorado lawmakers acted swiftly to shield families from the worst of the unaffordable premium increases, but it is not enough to cover the Division of Insurance's projected 101 percent rate increase. I renew my call for Congress to act now to prevent these massive price increases and protect coverage for Coloradans."

Statewide health care rates for individuals who purchase their own insurance are expected to increase by 101-percent due to Congressional Republicans' failure to extend the tax credits. Open enrollment begins this Saturday, and Coloradans who want coverage in 2026 must choose their plan before December 15. If Congressional Republicans don't act now, a family of four in the Denver metro area with an annual income of around $128,000 will see their health insurance premiums increase by approximately $14,000. If that family lives on the Western Slope, in southwest Colorado, in the San Luis Valley or on the Eastern Plains, their premium bill will increase by $16,000-$21,000.

Democrats have repeatedly urged Congress to extend the tax credits, which help make health care more affordable for around 225,000 Coloradans. The expiration of these tax credits on December 31 will lead to fewer people having health insurance and higher health insurance costs for everyone, including small businesses and Coloradans with employer-sponsored health insurance. If Congress extended the enhanced premium tax credits, the average premium increase would be 16-percent, instead of 101-percent, and some Coloradans would see no increase. In August, General Assembly Democrats sent a letter to Colorado's congressional delegation urging them to extend the enhanced premium tax credits that were intentionally omitted from the GOP's H.R. 1.

Colorado Democrats have significantly lowered health care costs with the state's reinsurance program, which has saved consumers over $2 billion, and Colorado Option health care plan, which offers the lowest or second lowest cost plan in 90-percent of Colorado counties. A recent study by Brown University found that the Colorado Option reduced monthly premiums by $101, even for non-Colorado Option plans.

Earlier this year, the Colorado General Assembly returned to the Capitol to combat some of the harm caused by Trump's Megabill and Congress's failure to extend the ePTCs. Colorado Democrats passed a law that will invest in Colorado's reinsurance program and blunt some of the most severe cost increases from the expiring tax credits. This law reduces the statewide average premium increase from 174-percent to 101-percent, saving Coloradans $220 million on health care next year and preventing 28,000 Coloradans from being kicked off their health coverage. The law also stabilizes Colorado's reinsurance program, resulting in over 21-percent in premium savings, with reductions up to nearly 40-percent on the Western Slope.