In a clear sign of growing stability in the individual health insurance market, all seven health insurance companies will be back, along with four dental plans, so most of our customers who are happy with their 2018 plans can keep them. Our analysis shows that customers receiving financial help will see, on average, a 24% drop in their net – after premium tax credit — premium.
Of course, we encourage all consumers to use our site to get at an estimate of their total costs rather than basing their choice solely on premium. But the premium picture is much brighter than recent years.
- Three out of four of our customers who bought their health insurance with financial help this year will have an option for health insurance with a net premium less than $50 per month in 2019.
- Two out of three of our customers who qualify for financial help will be able to find a bronze level plan for $0 net premium.
- Three out of four customers not receiving financial help can reduce their premium if they move to the lowest cost plan available in their current metal tier. The savings range from 4% to 10%.
Connect for Health Colorado is the only place to get financial help to reduce health insurance premiums. On average, that reduction takes 80% off the sticker price. Yet many Coloradans don’t even check to see if they can qualify, wrongly assuming they make too much money.
We will be looking for your help making sure they check beginning in 27 days, when our sixth Open Enrollment Period begins on November 1.
Kevin Patterson, MURP, MPA
Chief Executive Officer
Connect for Health Colorado