April 12, 2016
Contact: Luke Clarke 720-496-2545, LClarke@Connectforhealthco.com
DENVER – The average monthly savings on health insurance purchased through Connect for Health Colorado® this year is $294 a month, according to an analysis released today by the state health insurance marketplace, up from an average $228 a month last year.
The savings come in the form of a federal tax credit applied to monthly insurance premiums for qualifying individuals and families who enroll in health insurance through Connect for Health Colorado®. Not only has the average monthly tax credit increased, but the number of Coloradans who have qualified for the tax credit has risen 35 percent, according to the report.
Overall, Coloradans received $184 million in tax credits in 2015, when a total of 152,470 individuals and families signed up through the state marketplace.
Today’s report includes a county-level look at average premiums and tax credits for 2016. It covers enrollments during the three-month open enrollment period (Nov. 1, 2015-Jan. 31, 2016), as well as the “special enrollment period” that extended through February for many Coloradans whose 2015 coverage was not available for 2016.
Connect for Health Colorado enrolled 169,156 individuals and families in health insurance for 2016 in the period between Nov. 1, 2015, and Feb. 29, 2016, according to the detailed report published on the Connect for Health Colorado web site today. The enrollments for the four-month period exceeded the 141,639 enrolled during the previous three-month open enrollment period by 19 percent. (There was no large-scale special enrollment period last year.)
“This report shows real progress throughout the state in improving the financial and health security of our residents,” said Kevin Patterson, Connect for Health Colorado CEO. “We are grateful for the work of all of our partners – in particular the community-based groups supporting our assistance network and the licensed brokers who join us in increasing access, affordability and choice in health coverage for our state.”
A network of 1,137 of certified brokers, 128 Health Coverage Guides and 296 Certified Application Counselors worked to assist Coloradans enrolling in healthcare coverage through the state marketplace. The number of enrollments is up in 61 of Colorado’s 64 counties.
Average tax credit by county: click here.
Enrollment by county: click here.
About Connect for Health Colorado
Connect for Health Colorado is a public, non-profit entity established in law by the Colorado General Assembly in 2011 to create a health insurance Marketplace. It opened for business on Oct. 1, 2013, for individuals, families and small employers to compare and buy health insurance and apply for tax credits to help make their insurance more affordable. Customers can shop online; get help by phone or chat from expert Customer Service Center representatives; and find in-person assistance from certified brokers and agents, community based certified Health Coverage Guides or Certified Application Counselors. In 2016, the Marketplace enrolled more than 160,000 Coloradans in private insurance – all while keeping fees among the lowest in the country. For more information: www.connectforhealthco.com