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 Special Enrollment Period is a period of time outside of the annual Open Enrollment Period during which you and your household can shop for and enroll in a health insurance plan. You might qualify for a Special Enrollment Period if you or someone in your household experiences a Life Change Event, such as losing health insurance coverage from a job, moving, getting married or having a baby.

An Open Enrollment Period is when you can sign up for a health insurance plan. There is one Open Enrollment Period every year. Open Enrollment begins on November 1 and runs through January 15.

Your coverage will automatically end at the end of the year. You will have the option to either automatically renew your coverage or actively select a new plan for the year. We will notify you whether your plan will be automatically renewed, when we will renew your plan, and any other steps you need to take ahead of the Open Enrollment Period, which begins Nov. 1. If you are not eligible for automatic renewal, we will notify you and ask you to submit a new application for financial help and a health plan.

Health First Colorado is a state-sponsored health insurance program that provides free or low-cost care for Coloradans who qualify. It is a type of medical assistance program and is administered by the Department of Health Care Policy and Financing. When you apply for financial help through Connect for Health Colorado, your eligibility for Health First Colorado will be assessed first. If you do not qualify for Health First Colorado, you may be eligible for financial help through Connect for Health Colorado.

“Minimum Essential Coverage” is a standard or type of coverage you need to meet the individual mandate requirement under the Affordable Care Act. Some examples of health insurance plans that qualify as Minimum Essential Coverage are:

• Any Connect for Health Colorado plan
• Medicare (certain Parts and conditions apply)
• Children’s Health Plan Plus (CHP+)
• TRICARE (for veterans and veteran families)
• Peace Corps
• Volunteer plans

If you made a mistake, contact the Customer Service Center or your local Broker or Assister. If you accidentally selected the wrong plan or would like to select a different one and are outside of the Open Enrollment Period, you will need to wait until the next Open Enrollment Period or until you experience a Life Change Event.

Note: Do not submit multiple changes through Colorado PEAK or Connect for Health Colorado’s website to correct a mistake. This will only compound the issue.

You can sign up for a dental plan through Connect for Health Colorado during the annual Open Enrollment Period (November 1—January 15) or if you have a Qualifying Life Change Event. You do not need to buy a health insurance plan through Connect for Health Colorado to buy a dental plan.

We offer dental plans that cover children only, or children and adults. Some health insurance plans sold through Connect for Health Colorado offer dental coverage for children under 19 years of age.

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.