CO individual health insurance for Denver ICHRAs

Looking for the best individual health insurance options in Denver to use with an ICHRA? You're in the right place - and there's good news! The individual coverage HRA (ICHRA for short) is taking off where you live, thanks to a vibrant local individual health insurance market. That means more ACA-compliant, high quality health insurance choices for employees.  

Who this guide is for: 

• Employees shopping for health insurance to use with their ICHRA
• Employers wanting to help their employees make educated decisions about their health plans to use with their ICHRA
• Employers of any size considering implementing an ICHRA

What this guides covers:

• What is an ICHRA?
• 2022 Denver individual insurance options
• Denver insurance market snapshot
• Denver health insurance carriers
• Cost of individual insurance in Denver across carriers
• List of hospitals in network with carriers 

What is an ICHRA? 

First things first. An Individual Coverage HRA (ICHRA, for short) is a fundamentally new model of benefits that allows employers to set aside tax-free dollars to reimburse employees for health plan premiums that individuals choose themselves. That means employees get to choose the best plan for their family, their unique health needs, and their budget.

2022 Denver individual health insurance options for ICHRA

The same eight carriers are remaining in Denver for next year, several are expanding their footprint, and premiums remain stable.

This builds on an ongoing trend, signaling the health and affordability of the individual health insurance market. More and more employers in Denver are realizing their benefits dollars stretch further on the individual health insurance market instead of group plans, and this brings ample employee benefits too, like personalization and choice. 

Disclaimer: These rates are estimates for Denver County in 2021 in the 80013 zip code. Your premiums may vary and we expect slight changes for 2022. See our window shopping tool to check for exact premium rates in your area.

→ More on ICHRA Colorado Trends 

Market Snapshot

Denver's competitive individual health insurance market and innovative carrier lineup mean more choices for employees. The infographic below demonstrates the wide range of carriers, network types, and average lowest cost premiums by tier. 

Pro-tip: To calculate costs for adding a spouse or family to a plan, use double the rate for married, or triple for families. 

There are more ICHRAs per capita among our clients in Colorado than any other else in the country, and Denver leads the state.

Disclaimer: Plan information is based on 80013, the most populated zip code in Denver. Rates will vary by zip code and county. 

Remember, all of the plans listed here are ACA-compliant, meaning they cover pre-existing conditions and 10 essential benefits. These benefits include coverage with no annual cap for the following:

• Ambulatory patient services (outpatient services)
• Emergency services
• Hospitalization
• Maternity and newborn care
• Mental health and substance use disorder services, including behavioral health treatment
• Prescription drugs
• Rehabilitative and habilitative services and devices
• Laboratory services
• Preventive and wellness services and chronic disease management
• Pediatric services, including oral and vision care

The lineup: Denver’s best individual health insurance carriers to use with ICHRA

All eight carriers that offered individual health plans in Colorado in 2021 are returning for 2022.

These include (in alphabetical order):

1. Anthem BlueCross BlueShield
2. Bright Health Plans
3. Cigna
4. Denver Health Medical Plan
5. Friday Health Plans
6. Kaiser Permanente
7. Oscar
8. Rocky Mountain Health Plans

Here's a Denver health insurance infographic for a quick visual. 

*Autopay is a new feature on our platform that enables employers to take advantage of ICHRA and all its benefits without asking their employees to pay premiums out of pocket and wait for reimbursements.

*Easy Enroll is a plan feature that allows employees on the Take Command platform to enroll directly in the portal with no further steps needed. This is the simplest type of plan to choose.  

*Off-exchange options are important for employees that choose a plan that costs more than their allowance, since they'll have to put in some of their own money to cover the difference. That difference can be tax-free when combined with a Section 125 payroll deduction but only for off-exchange plans (due to some ACA restrictions).

Here's another handy infographic that includes some of our favorite things about each individual health insurance carrier in Denver. 

How much does individual health insurance cost in Denver per carrier?

While 2022 rates haven't been released yet, these are the lowest cost plans per metal tier for 2021 for each carrier in Denver. We expect these to change only slightly from this past year. We will update this section as new information is released for 2022.

Note: The below rates are 2021 estimates based on Denver zip code 80013 only.  

What we love:

• Anthem Skill for Alexa 
• 24/7 Virtual care
• 24/7 Nurse line 
• AutoPay eligible
• Easy Enroll options
• Recommended for ICHRA

Lowest cost by metal tier for Anthem BlueCross BlueShield in Denver 

For rates in your area based on your age, family size, and other variables, check out our window shopping tool!

What health plans are in network with your hospitals in Denver? 

Part of the beauty of choosing your own health plan is that you can make sure your hospitals are in network. Below you'll find the hospital networks for each Denver health insurance carrier. 

Disclaimer: Coverage varies across plans so we highly recommend you check with your provider. 

How do I choose the best individual insurance plan for me? 

One of our favorite things about ICHRA is that it allows employees to choose the best plan for them, as opposed to a one size fits all group plan where they only have one or two options. At Take Command, we have tools to help employees sort through the options. 

• Doctor search: Try out our doctor search tool to ensure that your trusted doctors stay in network with your new health plan. Try out our window shopping tool and search for plans that work with your doctors!
  
• Prescription search: Prescriptions can also be a big expense! Different carriers cover them differently, so it’s important to price check and take a good luck at formularies for all of your health plan options, especially if there’s something you take regularly to manage chronic conditions. Our new prescription search tool allows you to compare plan coverage and formularies side by side to find the best coverage at the lowest cost to you. Check it out here. 
  
  
• Be informed! We've put together an Open Enrollment Guide that will give you all of our best tips and tricks. 

To get started shopping for a plan, head on over to our individual health insurance shopping page to compare plans side by side and find one that will work for you and your HRA.

How Take Command can help

With an abundance of quality health insurance plans for employees to choose from throughout the state, Colorado employees are positioned for success in terms of satisfaction with their ICHRA. With a state-level public option on the horizon, that will bring another option to choose from for employees offered an ICHRA in Colorado. ICHRAs and the public option are both expanding coverage for Colorado workers.

To learn more about why Denver is a hot market for ICHRA, read our blog post on the subject.

• Employees: If you are an employee looking to sign up for individual health insurance in Denver to use with your ICHRA, our enrollment team is standing at the ready to help. You can set up a call with enrollment team here.
• Business owners: If you're a business owner and have questions about ICHRA, please schedule a time to chat with our HRA Design team to see if ICHRA is a good fit for you. 
• Brokers: If you're a broker considering ICHRA as an option for a client, submit an HRA Design request to see if this is a good fit for your client. 

Other questions? Email support@takecommandhealth.com or chat with us on the website. We'd be pleased to help!