Connect for Health Colorado: Open enrollment begins Nov. 1 with 30 percent average cost drop for Western Slope
You have no doubt caught some of the great health care news this summer regarding a significant drop in full price cost of premiums in the individual market across the state for 2020. The Western Slope will see the largest drop, on average 30 percent. This good news is a result of our state legislators working, across the aisle, to pass HB-1168, also known as the Reinsurance Bill. The sponsors of this bill were all from the Western Slope: Julie McCluskie, Janice Rich, Kerry Donovan and Bob Rankin.
This is terrific news for consumers who were priced out of the marketplace because of the high premiums. It’s time to come back and take a look, protect your finances and your health with comprehensive health coverage.
For our consumers who receive a tax credit each month to offset the full price premium, it will be very important to shop and compare 2020 plans and pricing. That is because of the way the tax credit is calculated. Among other things, the amount of the tax credit is based on the cost of the full price premium in a region. Because full price premiums are dropping, so will the tax credit. Nearly everyone who is seeing an increase in their net premium can find a health plan at a lower cost in the same metal tier. For this reason, we strongly encourage our current customers who receive a tax credit to shop!
We are here to help! Connect for Health Colorado has certified brokers and assisters across the state to help answer your questions, determine if you might be eligible for health care savings, and to enroll for coverage! You can find them on our website: http://www.connectforhealthco.com.
Also available is our award-winning Quick Cost and Plan Finder Tool. This anonymous tool will help you estimate any tax credit you might be eligible for in addition to showing you plans in your region, https://planfinder.connectforhealthco.com/.
• Nov. 1 — Open enrollment begins
• Dec. 15 — Last day to select a plan with a Jan. 1, 2020 effective date
• Jan. 15, 2020 — Last day of open enrollment
Since its implementation, Connect for Health Colorado has been one of the most successful state-based marketplaces in the country. We know this success is built on trust, transparency and our continued commitment to bring access, affordability and choice to individuals, families and small businesses in Colorado.