By Kathryn Mayer
Nearly a quarter of enrollees in health coverage in Colorado’s health exchange
are expected to either drop their plan or not pay for coverage in 2015.
That’s double what the state-run exchange, Connect for Health Colorado, previously estimated in April, when it projected that 13 percent of enrollees will drop or fail to pay for their policy. Officials are now expecting 24 percent to drop their policies, The Denver Post reports.
That will result in a $1 million loss in revenue for Connect for Health Colorado this fiscal year, according to the Post. Colorado charges a fee for each policy, so the dropped policies will result in a loss of money used to operate the exchange.
According to the Post, the exchange is using the “higher drop rate in more recent models because that is how national figures are tracking.”
Critics of the law say the estimate in Colorado
is a bad indicator of what might happen nationwide.
Dropped policies may occur from those who had a life event, such as getting a job that provides coverage or getting on a spouse’s plan, in addition to others who stop paying premiums.
Connect for Health Colorado does not have official numbers on the dropped policies yet, but the Post reports they will have a clearer picture by the end of summer.
It’s not the first time Connect for Health Colorado has garnered less-than-desirable attention. In the fall, Patty Fontneau, the exchange’s CEO, made headlines when she requested a raise and a bonus after the exchange’s lackluster rollout.
In 2014, the exchange enrolled more than 135,000 individuals in private insurance.
Originally published on BenefitsPro.com