Coloradans who experience a Qualifying Life Change Event have a 60-day window to buy or change plans. Otherwise, you can enroll during Open Enrollment which begins Nov. 1. Thanks to the American Rescue Plan, there’s more financial help available than ever before.

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New savings for health plans

You may be able to get more savings on health insurance coverage due to the American Rescue Plan (ARP). Under the new law:

  • More people than ever before qualify for help paying for health insurance, even those who weren’t eligible in the past because of their income.
  • Most people currently enrolled in a plan through Connect for Health Colorado may qualify for more tax credits.

There are two types of financial help you can qualify for:

Financial Help Icon Premium tax credits that lower your monthly premiums

 Cost-sharing reductions that give you healthcare discounts when you go to the doctor, pick up a prescription, or if 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.

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:

  1. Apply the savings in advance to lower your monthly premiums.
  2. Wait until you file your taxes to get a premium tax credit added to your tax refund.

Learn more about Premium Tax Credits »

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 how Healthcare Discounts work »

Use our quick and easy online tool to estimate how much financial help you may get, and then compare plans based on what matters to you most.

See if you qualify