by Matthew Valeta, Health Policy Analyst
Your health insurance plan is being canceled, and that’s a good thing. A lot of Coloradans are getting notices from their insurer saying their insurance plan is being canceled. Before you freak out, it’s important to realize, your specific plan may be getting canceled because it does not provide all the services or protections that are going to be required under health reform, but that really just means you will have access to new plans with better coverage and protections, at better prices. Starting January 1, 2014, Obamacare requires all insurance companies to cover 10 categories of essential health benefits.
- Hospital outpatient care
- Emergency room visits
- Hospital inpatient care
- Mental health services
- Prescription drugs
- Rehab services to help you recover if you are injured
- Lab tests
- Maternity care
- Preventative services
- Pediatric services
Better coverage is a good deal. Better coverage at a better price is a great deal. Thanks to Obamacare, Coloradans are going to be able to purchase better plans at better rates. For example, a 40 year-old in Denver can find a plan for as low as $185.20. A 27 year-old Coloradan could get a plan for as low as $125.57 per month. Before Obamacare, cheap health insurance plans provided little coverage and you could still be left saddled with thousands of dollars in medical costs. Now, even the cheapest plans have to meet Colorado’s 10 essential health benefits.
Approximately 243,000 Coloradans are going to qualify for monthly upfront financial assistance to save them money on their health insurance. For example a 40-year old in Denver could see her rates reduced by as much as $212 a month depending on her income.
Find out what your monthly subsidy will look like here:
Connect for Health Colorado Financial Assistance Calculator
Take advantage of this great opportunity to save money and take control of your health care. There are a couple of steps you can take to make sure you have everything you need in your new health insurance plan.
- If you like your current providers make sure that they are covered by your new insurance plan. Connect for Health Colorado will soon allow you to search insurance plans to see if they include your provider.
- There are free resources from Connect for Health Colorado available to make sure have the help and information you need!
- Health Coverage Guides are in your community and ready to help you in-person. Find the one nearest to you here: CCHI’s Blue Guide
- Brokers: Brokers can help you compare rates, evaluate benefits and sign up for a plan.
- Connect for Health Colorado Call Center: 1-855-PLANS-4-YOU (1-855-752-6749)
Here are some important dates to remember:
- You can sign up for a plan at Connect for Health Colorado from October 1, 2013 through March 31, 2014.
- If you previously had a health insurance plan you have a 60-day special enrollment period to get a new plan if your plan is cancelled outside of the October 1, 2013 – March 31, 2014 enrollment period