Connect for Health Colorado offers qualifying Coloradans financial help to lower their monthly premiums. Even if you think you make too much to qualify, you may be surprised! Individuals making up to $49,960 per year or a household of four making up to $103,000 per year may be eligible for financial help if you do not get coverage through an employer or another source.
There are two types of financial help you can qualify for:
Premium tax credits that lower your monthly premiums
Cost-sharing reductions that give you healthcare discounts when you go to the doctor.
You can be qualified either for lower monthly premiums or for BOTH lower monthly premiums and cost sharing reductions.
Lower Your Monthly Premiums (Advanced Premium Tax Credits)
The financial help you can get to lower your monthly payment is called a Premium Tax Credit. Every family is unique. You can get financial help based on your family’s specific needs and situation including:
- Your family size;
- Where you live; and
- Your family’s estimated annual income.
You can use the financial help in two different ways:
- Get the financial help in advance to lower your monthly premiums.
- Wait until you file your taxes to get a premium tax credit added to your tax refund.
Healthcare Discounts (Cost-Sharing Reductions)
If you do qualify for lower out-of-pocket costs AND you sign up for a silver plan, healthcare discounts are applied automatically when you go to the doctor or fill a prescription. Plans with healthcare discounts also have a lower out-of-pocket maximum – the total amount you’d have to pay for covered medical services per year. These healthcare discounts are called Cost-Sharing Reductions.
Learn more about Healthcare Discounts work »
See if you may qualify for financial help (more detail):
| If you are a family of … | With this income range, you may qualify for BOTH Lower Monthly Premiums and Healthcare Discounts | With this income range, you may qualify only for Lower Monthly Premiums |
| 1 | $16,612 – $31,225 | $31,226 – $49,960 |
| 2 | $22,490 – $42,275 | $42,276 – $67,640 |
| 3 | $28,369 – $53,325 | $53,326 – $85,320 |
| 4 | $34,248 – $64,375 | $64,376 – $103,000 |
| 5 | $40,126 – $75,425 | $75,426 – $120,680 |
| 6 | $46,005 – $86,475 | $86,476 – $138,360 |