In addition to the traditional plans available on Connect for Health Colorado, young adults have unique health insurance options available to them. Coloradans up to age 26 can sign up for their parent’s plan and Coloradans up to age 30 can sign up for a catastrophic plan.
Coverage Levels (Health Insurance Metal Tiers)
Health insurance plans are organized into three different levels to help you see, at a glance, a plan’s general approach to sharing costs with you. This can help you decide which plan level may be a good fit for you, based on how often you expect to need care.
If you or your family have medical conditions, then you may save money by selecting a Gold plan that has a higher monthly premium, but pays more of your medical costs.
If you qualify for healthcare discounts called Cost-Sharing Reductions, Silver plans are a good fit for you. You must purchase a Silver plan to receive this form of financial help.
If you are healthy and rarely go to the doctor, a Bronze plan with a lower monthly premium and higher costs when you receive care, might be a good fit for you.
Catastrophic plans for young adults
Catastrophic plans are available to individuals under age 30. They have a low monthly premium and a very high annual deductible. These plans only protect customers from high-cost, worst-case situations like a serious injury or illness.
While catastrophic plans have a very high annual deductible, they are still required to cover the same essential health benefits as other plans sold through Connect for Health Colorado. One of these benefits include preventive services at no cost when delivered by an in-network provider.
A Parent’s Plan
- If you are under age 26 you can stay enrolled through a parent’s health insurance plan, even if you don’t live with them and they don’t claim you on their taxes.
- Young adults can enroll in their parent’s plan even if they enrolled outside of Connect for Health Colorado.
- Parents can purchase a plan for themselves and their children under age 26 at the same time.
Catastrophic Plans: Did you know?
- Catastrophic plans cover at least three primary care visits during the plan year, but consumers pay all other medical costs until the annual deductible is met.
- After you reach your deductible, catastrophic plans pays 100% for covered services for the rest of the plan year.
- Financial help – Premium Tax Credits and Cost-Sharing Reductions – may NOT be used with catastrophic plans.
Note for Parents:
If your child lives at a distance from you or does not live in the state of Colorado, you may want them to have a separate plan. When your child is out-of-state they might not have access to doctors and hospitals near where they live.