How do individuals receive cost-sharing reductions?

When starting the application, customers should indicate that they are interested in financial assistance to help pay for the cost of health insurance. Connect for Health Colorado will determine eligibility based on income, household size, and a few other factors. Cost-sharing reductions are not payments; rather, they are applied to the plan a customer selects to lower the out-of-pocket payments associated with that plan. This means that, when the customer utilizes health care services, he/she will pay lower deductibles, copayments, and coinsurance than without the cost-sharing reduction. Cost-sharing reductions only apply to Silver level (and not Bronze, Gold, or Platinum) plans purchased through the Marketplace.

Related FAQs:
Am I eligible for subsidies (financial assistance) to help pay for health insurance?
What is a cost-sharing reduction?
How do individuals receive Advance Premium Tax Credits?
How can I apply for coverage and financial assistance through Connect for Health Colorado?