Colorado regulators approve average 27 percent hike in insurance rates

Colorado health insurance regulators on Wednesday made official a 27-percent average rate hike for people buying their own plans next year.

Colorado's Insurance Commissioner Marguerite Salazar cited continued turmoil on Capitol Hill in signing off on the rate increases, which come on the heels of a 20.4-percent rise in premium prices this year.

In doing so, she challenged Congress to pass several key reforms by Sept. 30 - promising to request those rates be lowered if lawmakers met the deadline.

"We'd be more than willing to work overtime to get those new rates certified," Salazar said.