Two big health insurers are pulling back in Colorado. That's bad news for people who buy coverage on their own.

Two major health insurers that sell plans to people who don't get coverage through a job have informed state regulators they are scaling back in Colorado for next year, potentially dealing another blow to the state's already-battered insurance market.

But at least one of the companies has indicated it might backtrack on the decision, pending the outcome of a state regulatory review.

In notices filed this week with the Colorado Division of Insurance, Anthem and Rocky Mountain Health Plans announced they would be withdrawing or discontinuing plans in 16 counties. The counties are concentrated in the Front Range, especially in the Denver metro area.

The decision would mean that roughly 96,000 people would have to shop for new health coverage from a different insurer for next year. That's nearly a third of the estimated 300,000 people who buy health coverage on their own.

Already, state officials are estimating that as many as 100,000 people will lose coverage next year due to skyrocketing prices related to the end of certain federal subsidies and the impact of the One Big Beautiful Bill Act, the federal tax and spending bill. Michael Conway, the Colorado insurance commissioner, said this move by Anthem and Rocky Mountain Health Plans could drive that number up higher.

"I don't know how we can ring alarm bells any louder," Conway said in a statement. "Coloradans need support."

Potential for reversal

Health insurers in the individual market — that's where people who don't get coverage through a job can shop for plans on their own and potentially receive a government subsidy to help afford it — have asked for huge price increases in Colorado for next year. On average, the carriers are asking for a 28% increase, but Anthem and Rocky have asked for more, 34% and 36%, respectively.

In a statement, Anthem suggested that it could still change course on its decision to withdraw from some counties before plans go on sale Nov. 1. The company categorized the notices as a procedural step done to stay in compliance with regulatory deadlines. It said it might backtrack pending the outcome of the state's regulatory review of its proposed rates.

"We hope to withdraw this notification and offer plans in as many regions as possible once the state rate review is complete," Anthem spokesperson Emily Snooks wrote in an email to The Sun. "Most importantly, Anthem will remain in any community where our departure would otherwise leave Coloradans without coverage options."

An email sent to a spokesperson for UnitedHealthcare, which owns Rocky Mountain Health Plans, was not immediately returned.

Which counties would be affected

Anthem and Rocky are key insurers in Colorado because they cover areas of the state — specifically rural counties and large parts of the Western Slope — where consumers would have few or no insurance options without them.

That made this week's announcement less catastrophic than it could have been. With the impact falling mostly on the Front Range, where insurance options are typically plentiful, Conway said no counties will be left bare because of the decisions, though his office is still assessing the impact to the smaller counties being left.

"Those folks are still going to have a number of other options," Conway said.

It is still a massive disruption, though. The nearly 70,000 Anthem members affected represents two-thirds of its current enrollment in the individual market, Conway said.

According to the Division of Insurance, Rocky has filed to withdraw plans from seven counties: Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson. Anthem has said it intends to pull out of those seven as well as Boulder, Clear Creek, El Paso, Gilpin, Park, Larimer, Mesa, Teller and Weld counties.

Special session legislation

At least a couple bills likely to be debated during the legislative special session that starts Thursday would direct more money into state programs that bring down the cost of insurance in the individual market. One would tap into the state's unclaimed property trust fund while another proposes pausing wolf reintroduction and redirecting the savings.

Conway urged lawmakers to act.

"The die is not completely cast when it comes to the state of the market," Conway said. "There's still a little bit of time left for our elected leaders to step up and help people."