It’s open enrollment season, and if you don’t already have health insurance, you can sign up between now and January 12th via Colorado’s health insurance marketplace, ConnectForHealthCO.com.
While there’s been much uncertainty about the future of health insurance, Colorado’s exchange has been seeing a record number of plan selections as well as a significant increase in the number of folks qualifying for financial assistance. While the federal government has recently repealed the individual mandate and canceled payments for the cost-sharing reductions (which reduce out-of-pocket expenses like deductibles), the advanced premium tax credit (APTC) is still fully funded for individuals and families with income between 138% and 400% of the federal poverty level (FPL). Individuals and families with income below 138% FPL qualify for Medicaid.
That means any individual with annual income below $48,240 or a family of four with income below $98,400 will receive assistance paying their premiums. Learn more at ConnectForHealthCO.com.
When more healthy people sign up, costs are shared more broadly and the system is more sustainable for everyone. Sign up soon and share with anyone you know who needs health insurance!
Even with premium assistance, we need to do more to address the unsustainable cost growth in our health care system. Learn more about what I’m working on here.