How to Save Money on Small Business Health Insurance in Colorado
Providing health insurance for employees is a crucial investment for small businesses in Colorado. However, it can also be a significant expense. Understanding how to save money on small business health insurance requires strategic planning, smart decision-making, and partnering with the right professionals. Whether you are a startup or an established company, there are ways to minimize costs while still offering quality coverage to your employees.
Work with Small Business Health Insurance Brokers
One of the most effective ways to save money is by working with small business health insurance brokers. These brokers specialize in finding the most cost-effective health insurance solutions for businesses of all sizes.
Instead of spending hours comparing plans on your own, a broker can do the heavy lifting, analyzing multiple carriers and policies to find one that fits your budget and coverage needs. Additionally, brokers have insider knowledge of discounts, tax credits, and group plans that can significantly lower premiums.
Choose the Right Plan for Your Business
Every business has unique needs when it comes to health insurance. By consulting with Colorado insurance professionals, you can determine whether a fully insured plan, self-funded plan, or level-funded plan is the best fit for your company.
Some employers find that high-deductible health plans (HDHPs) paired with Health Savings Accounts (HSAs) offer a cost-effective solution, allowing employees to save pre-tax dollars for medical expenses while reducing employer premiums.
Take Advantage of Tax Credits and Incentives
Colorado offers various tax incentives for small businesses providing health insurance. For example, the Small Business Health Care Tax Credit can cover up to 50% of employer-paid premiums if the business meets certain criteria.
Additionally, working with Denver health insurance providers who understand state-specific benefits can help you maximize savings by identifying additional programs that reduce costs.
Offer Preventative and Wellness Programs
Investing in employee wellness can lower overall healthcare costs in the long run. By partnering with Colorado insurance professionals, you can implement wellness programs that encourage healthy lifestyles, reducing the need for expensive medical interventions.
Many insurance carriers offer incentives for businesses that promote preventive care, fitness programs, and mental health support, leading to lower premiums and healthier employees.
Consider Group Coverage Over Individual Plans
Group health insurance is often more cost-effective than individual plans. By working with small business health insurance brokers, you can explore different group coverage options that provide better benefits at lower costs.
Insurance carriers often offer discounts for businesses enrolling multiple employees, leading to significant savings on premiums.
Compare Multiple Providers and Negotiate Rates
The health insurance market is competitive, and rates can vary significantly between providers. Denver health insurance brokers can help negotiate better deals by leveraging relationships with multiple carriers. Shopping around and comparing plans annually ensures that your business is not overpaying for coverage.
Encourage Employee Contribution and Cost Sharing
Many small businesses reduce costs by requiring employees to contribute to their health insurance premiums. This not only helps with affordability but also ensures that employees value the coverage they receive. Options such as tiered coverage plans or voluntary benefits allow businesses to offer insurance without bearing the full financial burden.
Use a Professional Employer Organization (PEO)
Small businesses in Colorado can save money on health insurance by joining a Professional Employer Organization (PEO). PEOs pool multiple small businesses together, allowing them to access large-group health plans at lower rates. By consulting with Colorado insurance professionals, you can determine if a PEO is the right choice for your business.
Stay Updated on State and Federal Regulations
Health insurance laws and regulations change frequently. Staying informed about new policies affecting Denver health insurance options ensures that your business remains compliant and takes advantage of cost-saving opportunities. Regular consultations with insurance experts can help you navigate these changes effectively.
Conclusion
Providing affordable health insurance for your employees doesn’t have to be overwhelming. By partnering with small business health insurance brokers, consulting with trusted Colorado insurance professionals, and exploring tailored Denver health insurance options, you can discover budget-friendly solutions that benefit both your business and your team.
Take proactive steps—compare plans, negotiate rates, and implement wellness programs—to save money while maintaining quality healthcare coverage. A strategic approach today can lead to long-term savings and healthier, happier employees.
Ready to find the right plan for your business?
Book your appointment with a small business health insurance broker today!
Also Read : Affordable Health Insurance Plans for Small Businesses in 2025
- Published in health insurance
How to Choose the Right Health Insurance Plan for Your Small Business
Why Health Insurance Matters for Small Businesses
Providing health insurance for your employees is one of the most important decisions you’ll make as a small business owner. Offering a comprehensive health insurance plan not only helps attract and retain talented employees but also ensures their well-being and productivity. However, choosing the right plan can be challenging, especially with so many options available. This guide will help you navigate the process and select the best health insurance plan for your small business.
Step 1: Assess Your Business and Employee Needs
Before choosing a health insurance plan, take the time to evaluate your business’s financial situation and your employees’ healthcare needs. Consider the following factors:
- The number of employees you have
- Employee health concerns and preferences
- Budget constraints for employer contributions
- The level of coverage employees expect
Understanding these factors will help you determine which plan options are best suited for your company.
Step 2: Understand the Types of Small Business Health Insurance Plans
There are several types of health insurance plans available for small businesses, each with different levels of coverage and costs. The most common options include
- Health Maintenance Organization (HMO):
Requires employees to use a network of doctors and hospitals for covered services. - Preferred Provider Organization (PPO):
Offers more flexibility by allowing employees to see both in-network and out-of-network providers. - Exclusive Provider Organization (EPO):
Similar to an HMO but with fewer restrictions and no need for referrals. - Health Savings Account (HSA)-Qualified Plans:
High-deductible plans that allow employees to use tax-free savings for medical expenses. - Small Business Health Options Program (SHOP) Plans:
Government-supported plans that offer affordable coverage options for small businesses.
By understanding these plans, you can select one that aligns with your company’s budget and employee needs.
Step 3: Explore Colorado Small Business Health Insurance Options
If your business is based in Colorado, you have several health insurance options tailored to small businesses. Colorado small business health insurance plans are designed to provide comprehensive coverage at competitive rates. Many insurers in Colorado offer group health plans that can be customized to fit your employees’ needs.
Colorado also participates in the Small Business Health Options Program (SHOP), which provides small businesses with access to affordable, high-quality health coverage. This program allows employers to choose from a variety of plans while potentially qualifying for tax credits.
Step 4: Compare Costs and Benefits
When choosing a health insurance plan, it’s essential to compare costs and benefits to ensure you’re making the best decision. Key factors to consider include:
- Premiums:
The monthly cost paid for the insurance plan. - Deductibles:
The amount employees must pay before coverage kicks in. - Copayments and Coinsurance:
The costs employees will share for doctor visits and prescriptions. - Out-of-Pocket Maximums:
The most employees will have to pay in a year before insurance covers all costs.
Balancing affordability with comprehensive coverage will help ensure both your business and employees benefit from the chosen plan.
Step 5: Work with a Colorado Insurance Agent
Navigating the complexities of health insurance can be overwhelming, which is why partnering with a professional is a smart move. A Colorado insurance agent can help you:
- Compare different health insurance plans available in your area.
- Understand state regulations and compliance requirements.
- Find plans that fit your budget and employee needs.
- Assist with the enrollment process and ongoing plan management.
A licensed insurance agent can simplify the decision-making process and ensure you choose the most suitable plan for your small business.
Step 6: Ensure Compliance with State and Federal Regulations
As a small business owner, it’s crucial to comply with state and federal health insurance regulations. Under the Affordable Care Act (ACA), businesses with 50 or more full-time employees are required to provide health insurance that meets minimum essential coverage standards.
For businesses with fewer than 50 employees, offering health insurance is optional, but providing coverage can make your business more competitive. Additionally, Colorado has specific regulations and tax incentives for small businesses that provide health coverage, which a Colorado insurance agent can help you understand.
Step 7: Consider Additional Benefits and Perks
Beyond basic health insurance, offering additional benefits can make your small business more attractive to employees. Consider including:
- Dental and Vision Insurance:
Many employees value these benefits as part of a comprehensive package. - Wellness Programs:
Encouraging employee health through wellness programs can reduce absenteeism and improve productivity. - Telemedicine Services:
Access to virtual healthcare can be a cost-effective way to enhance employee benefits. - Flexible Spending Accounts (FSAs) or Health Reimbursement Arrangements (HRAs): These allow employees to save on medical expenses using pre-tax dollars.
Offering a well-rounded benefits package can improve employee satisfaction and retention.
Step 8: Communicate with Your Employees
Once you’ve chosen a health insurance plan, it’s important to communicate with your employees about their options. Provide clear information on:
- How the plan works
- What it covers
- Costs and contributions
- How to enroll and make changes
Holding informational meetings or providing written materials can help employees make informed decisions about their coverage.
Step 9: Regularly Review Your Health Insurance Plan
Health insurance needs can change over time, so it’s essential to review your plan annually. Consider factors such as:
- Changes in employee demographics
- Adjustments in healthcare costs
- New insurance options available in Colorado
By reassessing your plan each year, you can ensure it continues to meet the needs of your business and employees.
Conclusion
Choosing the right health insurance plan for your small business requires careful consideration of your budget, employee needs, and available options. Exploring Colorado small business health insurance plans and working with a Colorado insurance agent can simplify the process and help you make an informed decision. By offering a comprehensive health insurance plan, you not only protect your employees’ well-being but also enhance your company’s ability to attract and retain top talent.
👉 Book an appointment today to find the best health insurance solution for your Colorado small business.
ALSO READ : How to Switch Medicare Plans: A Step-by-Step Guide
- Published in health insurance
How to Switch Medicare Plans: A Step-by-Step Guide
Switching Medicare plans may seem daunting, but with the right information, it can be a simple and empowering process. Whether you’re considering a new Medicare Advantage plan, moving from Original Medicare, or changing prescription drug coverage, it’s important to evaluate your current needs and explore your options. Start by understanding the enrollment periods, compare plan benefits and costs, and ensure your preferred providers and medications are covered. With careful planning and timely action, you can transition to a plan that better fits your healthcare and financial needs. This guide will help you make the switch with confidence and clarity.
Step 1: Determine Your Reason for Switching
Before making a change, it’s important to understand why you want to switch Medicare plans. Some common reasons include
- Lowering out-of-pocket costs
- Finding a plan with better prescription drug coverage
- Needing a wider network of healthcare providers
- Moving to a different state or county
- Wanting additional benefits like dental, vision, or wellness programs
Understanding your needs will help you choose the best option when comparing available plans.
Step 2: Review Your Current Medicare Coverage
Take the time to assess your current Medicare plan. Are you enrolled in Original Medicare (Part A and Part B), or do you have a Medicare Advantage plan? If you have Original Medicare, you may be paying for separate Part D prescription drug coverage or Medigap (Medicare Supplement) insurance. Reviewing your benefits and costs will help you decide whether to stay with your current plan or make a switch.
Step 3: Explore Medicare Advantage Plans in Colorado
If you live in Colorado and are considering Medicare Advantage (Part C), you have several options available. Medicare Advantage plans in Colorado provide an alternative to Original Medicare by offering bundled coverage, which often includes additional benefits such as dental, vision, hearing, and wellness programs.
Private insurance companies approved by Medicare offer these plans, and they can vary in terms of cost, coverage, and provider networks. Be sure to compare plans to find one that meets your healthcare needs.
Step 4: Compare Plans Using the Medicare Plan Finder
Medicare’s official website offers a tool called the Medicare Plan Finder, which allows you to compare different plans available in your area. When evaluating new plans, consider the following factors:
- Monthly premiums and annual deductibles
- Copayments and coinsurance amounts
- Coverage for prescription drugs and preferred pharmacy options
- In-network hospitals and healthcare providers
- Extra benefits such as dental, vision, or hearing coverage
By carefully comparing your options, you can ensure that you select the best plan for your needs.
Step 5: Check Enrollment Periods
You can only switch Medicare plans during specific enrollment periods. Here are the key times when you can make a change:
- Annual Enrollment Period (AEP): October 15 – December 7, when you can switch Medicare Advantage or Part D plans.
- Medicare Advantage Open Enrollment Period: January 1 – March 31, when you can switch Medicare Advantage plans or return to Original Medicare.
- Special Enrollment Period (SEP): If you experience a qualifying life event, such as moving to a new location or losing employer coverage, you may be eligible to switch plans outside of the standard enrollment periods.
Step 6: Work with Insurance Agents in Colorado
Navigating the complexities of Medicare can be challenging, which is why working with insurance agents in Colorado can be beneficial. These licensed professionals have in-depth knowledge of Medicare plans and can help you:
- Compare different plan options based on your specific healthcare needs
- Explain costs, coverage, and provider networks
- Assist with the enrollment process
A trusted insurance agent can make the process easier and ensure that you choose a plan that aligns with your budget and medical requirements.
Step 7: Enroll in Your New Plan
Once you’ve chosen the right plan, you can enroll through one of the following methods:
- Online via Medicare’s official website
- Calling Medicare at 1-800-MEDICARE (1-800-633-4227)
- Contacting the insurance company directly
- Working with a licensed insurance agent
Be sure to have your Medicare number and personal details ready when enrolling. If switching from Medicare Advantage to Original Medicare, you may also need to enroll in a Part D prescription drug plan separately.
Step 8: Notify Your Healthcare Providers
After enrolling in a new plan, inform your doctors and healthcare providers about the change. This will ensure that your new coverage is accepted and that there are no disruptions in your medical care. If you switched to a new Medicare Advantage plan, check whether your preferred providers are still in-network.
Step 9: Review Your New Plan’s Details
Once your new plan takes effect, carefully review the documents sent by your new insurer. Pay close attention to:
- The plan’s benefits and coverage details
- Your new insurance ID card
- Any changes in prescription drug coverage
If you have any questions or notice discrepancies, contact your insurance provider for clarification.
Conclusion
Switching Medicare plans doesn’t have to be complicated. By understanding your healthcare needs, exploring Medicare Advantage plans in Colorado, and consulting with insurance agents in Colorado, you can confidently make the switch to a plan that offers better coverage and affordability. Whether you’re changing plans for financial reasons, better benefits, or provider preferences, following these steps will help you make an informed decision and ensure a seamless transition to your new Medicare coverage.
- Published in health insurance
Affordable Health Insurance Plans for Small Businesses in 2025
Providing health insurance is crucial for small businesses in 2025. Not only does it enhance employee retention, but it also improves workplace productivity and ensures compliance with healthcare regulations.
The Challenges of Finding Affordable Coverage
Many small businesses struggle to find cost-effective health insurance solutions. Rising premiums, limited options, and complex regulations make it difficult to choose the best plan. However, with the right approach, businesses can find tailored and affordable health insurance plans.
Best Affordable Health Insurance Plans for Small Businesses in 2025
1. Group Health Insurance Plans
One of the most common options for small businesses, group health insurance provides coverage to employees and sometimes their families. These plans offer comprehensive benefits at a lower cost compared to individual plans.
2. Health Reimbursement Arrangements (HRAs)
HRAs allow small businesses to reimburse employees for health-related expenses, offering flexibility and cost control. This is a great alternative to traditional group plans, especially for businesses with budget constraints.
3. Association Health Plans (AHPs)
AHPs enable small businesses to pool resources with other businesses to access better rates and coverage options. This is an excellent solution for companies looking for small business health insurance in Colorado.
4. Individual Coverage Health Reimbursement Arrangement (ICHRA)
With ICHRAs, employers provide tax-free reimbursements for employees to purchase their own health insurance plans. This option offers personalization and flexibility for both employers and employees.
5. Small Business Health Options Program (SHOP)
SHOP is a government-backed marketplace offering small businesses access to affordable health insurance plans. Businesses that qualify may also receive tax credits to offset costs.
How to Choose the Right Small Business Health Insurance Plan
Assess Your Budget and Employee Needs
Start by determining how much your business can allocate to health insurance. Consider employee preferences and needs, such as coverage levels, deductibles, and provider networks.
Work with a Health Insurance Agent in Boulder
A professional health insurance agent in Boulder can help navigate the complexities of insurance policies, compare different plans, and identify cost-effective solutions that meet your business needs.
Compare Premiums and Coverage Options
Review multiple plans to find the best balance between affordability and comprehensive coverage. Look for plans that include essential benefits like preventive care, emergency services, and prescription drugs.
Consider Tax Benefits and Incentives
Explore available tax credits and incentives that can help reduce the overall cost of providing health insurance. Programs like the Small Business Health Care Tax Credit can make coverage more affordable.
Benefits of Providing Health Insurance to Employees
Improved Employee Retention and Satisfaction
Offering health insurance as part of your benefits package increases job satisfaction and reduces turnover, helping you maintain a skilled and loyal workforce.
Increased Productivity and Healthier Workforce
Employees with access to healthcare are more likely to stay healthy, reducing absenteeism and improving overall productivity.
Compliance with Legal Requirements
Certain states require small businesses to offer health insurance, and providing coverage ensures compliance with labor laws and avoids potential penalties.
Conclusion: Invest in the Right Health Insurance Plan for Your Business
Finding the right health insurance plan for your small business in 2025 requires careful research and expert guidance. Whether you’re considering group plans, HRAs, or individual reimbursements, working with a trusted health insurance agent in Boulder can simplify the process. By providing affordable small business health insurance in Colorado, you not only support your employees but also position your business for long-term success.
- Published in health insurance
Best 10 Health Insurance Tips for Small-Business Owners
As a small-business owner, providing health insurance for your employees is one of the most important benefits you can offer. Health insurance can help attract and retain talented employees, while also protecting their health and well-being. In this blog post, we will guide you through the best health insurance tips for small-business owners in Colorado.
Introduction
As a small-business owner, offering health insurance is not only a responsibility but also an investment in the well-being of your employees. The right health insurance plan can help you attract top talent, improve employee retention, and reduce turnover. However, with so many options available, navigating the world of health insurance can feel overwhelming. This post will provide you with the top 10 tips to help you make the best choices for your business and your employees.
Tip 1: Assess Your Business’s Needs
Before you start shopping for health insurance plans, it’s important to evaluate your business’s needs. How many employees do you have? What is the age range of your employees? What are their general health conditions? By understanding these factors, you’ll be able to select a plan that fits both your budget and the needs of your team.
Tip 2: Understand the Different Health Insurance Plans
There are several types of health insurance plans available, and each one offers different benefits and drawbacks. Here are the most common types:
A. Health Maintenance Organization (HMO):
Requires you to choose a primary care physician (PCP) and get referrals for specialists. Typically, this plan offers lower premiums.
B. Preferred Provider Organization (PPO):
Offers more flexibility when choosing doctors and specialists, often without needing a referral.
C. High Deductible Health Plans (HDHP):
These plans have lower premiums but higher deductibles. They are often paired with Health Savings Accounts (HSA), which allow employees to save money tax-free for medical expenses.
D. Health Savings Account (HSA):
A tax-advantaged savings account for medical expenses that pairs with HDHPs.Understanding the pros and cons of each will help you choose the plan that works best for your business.
Tip 3: Shop Around for Plans
It’s crucial to compare different plans before settling on one. Don’t just go with the first plan you find. Take time to research various options and get quotes from multiple providers. You may find that some plans are more affordable than others or that certain insurers offer additional benefits that suit your business better. Online comparison tools can be helpful in reviewing multiple plans in one place.
Tip 4: Consider Group Health Insurance Options
If your business has a team, group health insurance can be one of the best options. Group insurance allows you to offer coverage to your employees at a lower rate than individual insurance plans. Group health plans typically have more flexible coverage options, lower premiums, and less stringent underwriting requirements.
Tip 5: Get Quotes from a Local Colorado Life Insurance Company
When looking for health insurance, consider working with a Colorado life insurance company. These companies often offer bundled plans that include life and health insurance coverage. Having both types of insurance from the same provider can simplify the management of your benefits package and often comes with added perks, like discounted premiums or more comprehensive coverage.
Tip 6: Offer Multiple Plan Options
Your employees will have different healthcare needs, so offering multiple health insurance options can be a big plus. Some employees may prefer a lower-cost, high-deductible plan, while others may need more comprehensive coverage. By offering a range of options such as PPOs, HMOs, and HDHPs, you can provide flexibility and ensure that everyone has access to the healthcare they need.
Tip 7: Look Into Small Business Health Insurance in Colorado
Small businesses in Colorado may have access to state-sponsored programs or subsidies that can make health insurance more affordable. Be sure to explore these options, which could help lower the cost of providing coverage for your employees. You can also talk to an insurance broker who specializes in small business health insurance in Colorado to help you navigate local programs and find the best options for your business.
Tip 8: Consider the Benefits of Offering Dental and Vision Insurance
In addition to general health coverage, dental and vision insurance are highly valued by employees. Many people need regular dental check-ups and eye exams, and having insurance that covers these services can help reduce employees’ out-of-pocket costs. Adding dental and vision coverage to your benefits package can make your business more attractive to potential hires.
Tip 9: Understand the Tax Advantages of Offering Health Insurance
Offering health insurance comes with tax benefits for your business. Small-business owners who provide health coverage to employees may be eligible for tax deductions. Employees also benefit because their contributions to their health insurance plan may be deducted from their taxable income. Understanding these tax advantages can help you reduce costs and maximize savings.
Tip 10: Review Your Plan Annually
Health insurance plans can change from year to year, and so can your business’s needs. Review your health insurance plan annually to make sure it still aligns with your goals and the needs of your employees. Look for changes in premiums, coverage, and the network of providers to ensure you’re getting the best deal.
Conclusion
Health insurance is an essential benefit that can help your small business thrive by attracting and retaining employees. By following these 10 tips, you can make informed decisions that will benefit both your business and your team. Whether you’re exploring plans from a Colorado life insurance company or looking into small business health insurance in Colorado, take the time to shop around, compare plans, and choose the best coverage for your business.
Offering health insurance doesn’t have to be complicated. With the right approach, you can provide valuable benefits that support your employees’ health while protecting your business’s financial stability.
- Published in health insurance
After Open Enrollment under the ACA– What Can You Do Now?
The dust has mostly settled form the first open enrollment period for individual/family plans under the Affordable Care Act (ACA). Thank you for your recent visit to our health insurance website. If you find yourself without insurance or with a deductible that would be very hard to come up with, here are some ideas for three typical situations:
1.) You experienced a life change event qualifying you for a special enrollment period
You may be eligible for a special enrollment period to get 2014 coverage if any of these apply to you:
- You lost a plan that provided minimum essential coverage (MEC), including a loss of Medicaid coverage due to an increase in your income.
- You lose employer-sponsored coverage or it becomes unaffordable as defined by the law.
- You turn 27 and are no longer eligible to be on your parents’ insurance plan
- You gain Citizenship or Immigration status
- You move to Colorado, or out of your plan’s service area
- Your family situation changes (marriage, divorce, birth or adoption, death)
- You have a gain or loss of eligibility for the tax credit or cost sharing reduction
2.) You missed the deadline to get insurance, but don’t qualify for a special enrollment period.
If you do not qualify for a special enrollment period, there are some things you can do to lessen your risks:
- Accident Insurance to cover out of pocket medical costs arising from some accidental injury
- Critical Illness insurance to provide cash for expenses if you are diagnosed with a critical illness
- Disability Insurance to provide cash in case you cannot work.
- Dental or Vision insurance
- Fixed Benefit plans that provide a flat amount for various types of medical services.
Colorado Health Brokers can help you navigate any of these situations. Please email or call if you would like to see whether you can benefit from any of these options, or have any questions about health and related insurance.
- Published in health insurance
DECEMBER 1: TIME TO GET THAT HEALTH INSURANCE YOU’VE BEEN TALKING ABOUT
Since last year, Thanksgiving has a new meaning for people who need health insurance. The time for buying individual and family plans (as opposed to plans through your work) is approaching. If you need to be sure your 2014 insurance is still the best option, or if you are looking for insurance the very first time, the application deadline is very close. Your quickest path to insurance? Call one of our certified brokers to get individualized hands on help at no charge.
DEADLINE: December 15 is the deadline to apply for individual health insurance that begins January 1. Since there are no medical qualifying hoops to jump through any more, you need only apply to get health insurance for yourself and your family. Applications must in no later than Dec. 15 if you want your insurance to begin on January 1.
HOW TO CREATE AN ACCOUNT ON THE COLORADO EXCHANGE: If you want to buy insurance for 2015, it is helpful to have an account on the Connect for Health Colorado (Connect) Marketplace (the state’s health benefit exchange. Click on this link for a guide to doing this: https://www.dropbox.com/s/q3iy9dw8b5df9dl/CreateAccount112814.pdf?dl=0
HOW TO APPLY FOR FINANCIAL ASSISTANCE: Financial assistance with health insurance premiums depends on income level and family size. You may qualify for financial assistance for 2015 if your family income is less than these amounts:
Individual: $46,680
Two People: $62,920
Four People: $95,400
For self-employed people, income is after your business expenses. To create an account on Connect for Health Colorado and see how much assistance you qualify for, click on this link for our easy-to-follow, free guide to doing this: https://www.dropbox.com/s/3bi0fajhm03gnoe/NewCustomerWithFinancial%20Assistance%20app113014.pdf?dl=0
If you want to purchase a plan, but do not qualify or want to apply for financial assistance, use this link for instructions on how to shop for a plan on the Colorado Marketplace: https://www.dropbox.com/s/1t6k83zqlwbheod/NewCustomerNoFA113014.pdf?dl=0
IF YOU HAVE QUESTIONS OR PROBLEMS: If you have technical or computer problems creating an account or completing the financial assistance application, you can call Connect’s Customer Service line at 855-752-6749 for help solving the problem. For questions or issues related to your insurance, rely on your broker.
FINDING THE BEST PLAN: There is no single best health insurance plan. The best plan for each person balances the monthly cost of the insurance, with the health of the person, their preferences for certain doctors, and likely out of pocket costs. My role as a broker is to help compare all available plans to find the one that best meets your needs and requirements. You do not pay anything extra to use a broker.
At Colorado Health Brokers, we all live in Colorado and enjoy helping people find the best possible health insurance plan for their particular situation. I am a broker, also trained and certified toq help find financial assistance to help with insurance premiums. There is no charge to you for the help I provide.
Hal Winslow
Colorado Health Brokers
720-323-9747 cell/303-541-9533 ofc
CAN I RENEW MY 2014 COLORADO MARKETPLACE PLAN? SHOULD I?
What’s different about your Connect for Health Colorado Marketplace (Connect) account this year? Renewal options. Most people who purchased plans from Connect for 2014 will be able to renew those plans for the 2015 plan year (with the Affordable Care Act, individual and family plans are all on a calendar year cycle).
You should renew your 2014 policy for 2015 if you are generally happy with:
- The amount of the monthly premium you will pay in 2015
- The amount of deductible and coinsurance, as well as other terms of coverage
- The network of doctors, hospitals and facilities that accept this insurance.
You will not be offered a renewal of your policy if you are no longer eligible for your 2014 arrangement:
- Children on family plans turning 26 must get their own plans
- Persons with Marketplace Catastrophic plans turning 30 must get standard plans
- Persons who turned 65 who begin receiving Medicare benefits are no longer eligible
What about Subsidies?
If you received Marketplace subsidies (help with premiums, lower out of pocket costs) during 2014, your 2015 subsidy will automatically be calculated so long as Connect has enough information to do so. If there is no 2015 determination shown in your personal Connect account, you must reapply. This year, applying for a subsidy is easier. The new Connect system incorporates the relevant information screens of the PEAK Medicaid system. This means you do not have to create a PEAK account and go through that separate system any more.
How do you Renew?
You will receive notice of your renewal option from Connect and from your insurance company. In almost all cases, you can renew your plan by doing nothing. If your plan is through the Connect Marketplace, you may renew by:
- Doing nothing. In this case, Connect will renew you for 2015
- Selecting “I want to continue with my current plan” in your Connect account.
What if you don’t want to Renew or Need Help Deciding?
Renewing may not be the best option for you, or you may need help navigating the new eligibility process for financial assistance. It costs you nothing in fees or extra premiums to get the advice and perspective of a professional broker.
Colorado Health Brokers are certified by Connect for Health Colorado and work extensively with Connect staff and clients purchasing plans on the Connect Marketplace. We also handle client purchases directly from insurance companies and offer a range of supplementary coverages (accident, critical illness, travel, foreign medical, disability, life) to help each client find the best mix of coverage. Contact us at: info@cohealthbrokers.com
NEXT: What about renewing plans purchased directly from the insurance companies (off-Marketplace)?