Welcome back! It’s time to renew your coverage for 2016. Make sure to stay covered this year and avoid a tax penalty. If you go without health insurance in 2016, you could face a tax penalty of at least $695 per person in your household, or much more depending on your income.
Don’t miss these important Dates!
Once you’re enrolled, make the most out of your comprehensive coverage by understanding the benefits included in your plan. This Coverage to Care Roadmap is a great resource to use.
- Nov. 1st
- Open Enrollment begins – start shopping for 2016 health insurance
- Dec. 15th
- Deadline to select coverage beginning Jan.1st
- Dec. 25th
- Deadline to pay insurance company for January 1st coverage
- January 31st
- Last day to apply for 2016 health insurance and avoid a penalty of at least $695 per person, or much higher depending on income.
Your options for renewing:
- Auto Renew
If you are eligible to renew automatically — we make it easy! If your health insurance plan is the same and your household size and/or income hasn’t changed, you may be eligible for auto-renewal. If this is the case, we will let you know and you don’t have to do anything but pay your first month’s premium before December 25, 2015 and you’ll be covered on January 1, 2016. Sometimes insurance companies make small changes to plans from year to year, both in cost and benefits. You should check with your insurance company to see if this is the case before auto-renewing. And of course, it is always smart to see if there are any new options that may be a better fit for you. We always recommend you do your homework and compare plans, benefits and prices. You can check out new plans with our Plan Finder Tool. You may want to consider submitting a new enrollment application and shopping for a new plan, if:
- Your income has changed and you applied for financial assistance last year, and/or
- Your household size changed (marriage, divorce, having or adopting a child)
- Your address has changed
This is important because in order to help determine the level of financial assistance you may be eligible for, it’s best that we have the most accurate and up-to-date information.
- Shop for a New Plan
If your insurance company is not offering the same plan, your household income or size has changed, or you simply want to change plans for 2016, we recommend that you use our Plan Finder Tool to browse your options for the best plan to meet your current health needs and budget. In the Plan Finder Tool you can check which plans include your preferred doctors and hospitals. If you select a plan that doesn’t include your preferred doctor or hospital “in-network,” it could cost you more to use them. The Plan Finder Tool also allows you to look up specific medications to see if they are covered by a plan you are considering.
If you qualified for financial assistance last year and your income has changed, you should get a new tax credit estimate before browsing new plans. Use our Tax Credit Estimator to get a sense of your savings prior to browsing plans. If you did not receive financial assistance last year, check to see if you now qualify.
Coloradans may be eligible for financial assistance depending on their income and household size. In 2016, our customer saved an average of $230 per month on monthly health insurance costs.