Kaiser Permanente Colorado, the state's largest insurer, is laying off about 200 employees after unveiling financial struggles, The Denver Post reported.
Kaiser spokesperson Amy Whited told the Post that the layoffs aim to "address redundancies" in administrative positions and positions unrelated to direct patient care.
"We are making operational improvements to ensure we are meeting and exceeding our members' expectations for quality, service and affordability," she said. "An important part of this effort is having the right people in the right jobs to best serve our members."
In October, Kaiser revealed losses of $65 million in the last three years and blamed them on rising hospital prices and "unfair business practices." The insurer said it would review its operations in Colorado after an investigation by the Post found hospitals in the state increased their prices by 76 percent over eight years.
A Kaiser spokesperson told the Post the insurer is offering 60 days of administrative pay, as well as severance, to those affected by the layoffs.
According to the publication, Kaiser has about 40,000 Medicaid members and more than 8,000 employees in Colorado.