Coloradans who have an offer of affordable health insurance, even if they do not sign-up for that coverage, are not eligible for financial help through Connect for Health Colorado. Examples include (but are not limited to):

• Health First Colorado (Medicaid)
• Your employer
• Medicare
• TRICARE
• The Child Health Plan Plus (CHP+) Program

People who don’t qualify for financial help because they can enroll in other affordable coverage can still enroll in a health plan through Connect for Health Colorado, but at full price. Make sure you tell us about any other health coverage you have access to when you apply through Connect for Health Colorado.

You can qualify for three types of financial help through Connect for Health Colorado: Premium tax credits that lower your monthly premiums (what you pay on a monthly basis), state-funded assistance that automatically lowers costs of premiums (not as a tax credit), and cost-sharing reductions that give you discounts when you go to the doctor, pick up a prescription, or if/when you need to pay your deductible.

 
Depending on your income range and household size, you can qualify for lower monthly premiums OR for BOTH lower monthly premiums and cost-sharing reductions.

The fastest way to find out if you qualify for exclusive savings on health insurance through Connect for Health Colorado is to submit an application. To get started, you can fill in your application now or talk to one of our experts.

If you’d rather see an estimate before you apply, add your income and other household information into our Estimate and Explore tool. You’ll then see an estimate on what you may be able to save with financial assistance for your selected plans.

In order to qualify for financial help, you must:

(1) Buy your health insurance plan through Connect for Health Colorado.

(2) Meet the income requirements based on your household size (Check the Quick Cost & Plan Finder to see if you qualify).

(3) Not already have access to health coverage that is affordable and meets certain standards.

You can determine which financial help programs you and your family qualify for by completing an application.

When starting the application, you should indicate that you are interested in receiving financial help to lower the cost of health insurance. Connect for Health Colorado will determine your eligibility for financial help based on the cost of insurance where you live, household size, and your household’s estimated gross income for the year during which you are receiving the credit. If you overestimate or underestimate your income and receive more or less tax credit than you were actually eligible for, the difference will be reconciled by the IRS when you file your federal income taxes. For this reason, it is important to report changes in income, household size and address to Connect for Health Colorado.

If you qualify, you can choose to receive the Advance Premium Tax Credits in one of two ways:

(1) Claim some or all of the tax credit in advance, which means the credit will go directly to the insurance company to lower your monthly premium.

(2) Receive the tax credit in a lump sum when you file your taxes.

The Federal Poverty Level is a measure of income level issued annually by the Department of Health and Human Services. Federal poverty levels are used to determine your eligibility for certain programs and benefits.

The income you report on your application that we use to determine how much financial help you can receive is called your Modified Adjusted Gross Income (MAGI). In general, it is your estimated adjusted gross income (the income you report when you file your federal taxes) plus any non-taxable Social Security, tax-exempt interest, or foreign income you have for the year for which you are applying. Remember to report income changes to Connect for Health Colorado to make sure you’re getting the right amount of Premium Tax Credit during the year.

Information about how to file taxes, including what incomes and allowances should be included, can be found on the IRS website.

A Premium Tax Credit is a financial help program designed to lower the monthly cost of health insurance for individuals and families. To be eligible for a Premium Tax Credit, you must buy your health insurance plan through Connect for Health Colorado and meet the income requirements. You can take the Premium Tax Credit in advance and apply it to the monthly premium, or you can wait and take it when you file your federal income taxes.

If you qualify for a Premium Tax Credit, you may also qualify for additional financial help in the form of Cost-Sharing Reductions. You can determine which financial help programs you and your family qualify for by completing an application.

Cost-Sharing Reductions are not payments; rather, they are applied to the Silver-level plan you select to lower the out-of-pocket payments associated with that plan. This means that, when you use health care services, you will pay lower deductibles, co-payments, and prescription drug costs.