Open Enrollment for 2020 Health Insurance Coverage Begins November 1, 2019
Recent Legislation Helps Lower Full Price Premiums by 30% in Individual Market
Linda Gann, Senior Outreach Manager, West Slope Region – Connect for Health Colorado
You have no doubt caught some of the great healthcare 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 healthcare savings, and to enroll for coverage! You can find them on our website: www.connectforhealthco.com > we can help. 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/.
Important dates:
November 1, 2019 Open Enrollment Begins
December 15, 2019 Last Day to Select a Plan with a January 1, 2020 effective date
January 15, 2019 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.
Linda Gann, Senior Outreach Manager, West Slope Region – Connect for Health Colorado [email protected] 970-417-7119
About Connect for Health Colorado
Connect for Health Colorado is a public, non-profit entity established by the Colorado General Assembly in 2011 to create a health insurance Marketplace. Since 2013, we’ve been helping individuals, families and small employers compare plans, apply for financial help and buy health insurance. As Colorado’s official health insurance marketplace, we are the only place to apply for financial help to lower the monthly cost of premiums.
