What is a Cost-Sharing Reduction?

Cost-Sharing Reductions are available to those with low-to-moderate income who qualify and enroll in a silver plan through Connect for Health Colorado. Health insurance plans typically require some form of cost sharing (also called out-of-pocket costs) when you receive covered health care services. Cost-Sharing Reductions help you save on these expenses, which are in addition to your monthly premium and come in a variety of forms, including:

  • Copayments: Set dollar amounts for covered services
  • Coinsurance: A percentage of the allowed cost for covered services
  • Deductibles: Set dollar amounts that enrollees must pay before their plan starts to cover the service or a group of services

Learn more about Cost-Sharing Reductions.

Related FAQs:
Am I eligible for financial assistance to help pay for health insurance?
What is a Premium Tax Credit?
How do individuals receive Cost-Sharing Reductions?
Health plans are categorized as Bronze, Silver, Gold, or Catastrophic. What does this mean?