In the individual market, many Coloradans lack access to health insurance because of a pre-existing medical condition. Carriers either reject these individuals outright or offer a limited set of benefits at premium rates that are unaffordable to all but a few. As a result, these individuals are deemed “uninsurable” in the individual health insurance market and make up an important segment of Colorado’s 768,000 uninsured residents.
Thirty-three states, including Colorado, operate a high-risk pool for individuals underwritten out of the individual insurance market.
Nationwide, approximately 180,000 people participate in high-risk pools. Enrollment ranges from almost 33,000 in Minnesota to just over 100 people in Iowa, with roughly 5,000 enrollees in Colorado’s high-risk pool, CoverColorado.
This report includes a table highlighting certain elements and financing mechanisms of high-risk pools for select states compared to Colorado.