What health insurance companies are going to be on the Colorado health insurance exchange?
The Colorado Health Insurance Exchange recently announced which carriers have submitted plans to the Division of Insurance (DOI) for approval, and would likely take part in the online insurance exchange. This list includes insurance companies that will offer both individual and/or small group health plans: All Savers Insurance Company (Individual) Anthem (HMO Colorado and Rocky…
Essential Health Benefits are basically what the Affordable Care Act says must be covered with no lifetime maximums, on every fully insured small group and individual health insurance policy starting January 1st, 2014 (or on the first day of the plan year following January 1st, 2014): • Ambulatory patient services • Emergency services • Hospitalization…
Employer Penalties under the ACA in 2014
Employers, you need to be aware of the penalties that will be imposed come 2014 if you are not compliant with health care reform law. Check out this flow chart created by The Kaiser Family Foundation to see how you may or may not be impacted. Employer Penalties Flow Chart Not sure how…
While most of us can understand the basic meanings of our health insurance terminology such as deductibles, co-pays, co-insurance, etc., there is a whole new language being spoken within Health Care Reform. Wondering what in the world an EHB or QHP is? This list should help. ACA – Affordable Care Act, fully known as…
Colorado Health Insurance Exchange User Fees
The Washington Post is reporting that the Feds are proposing a 3.5 percent fee on insurers who want to participate in new health care markets (this would include the Colorado health insurance exchange). The fee is to cover administrative costs of the new markets, which were designed to be self-supporting. Like most administrative and/or regulatory costs…
Am I eligible for the Advanced Premium Tax Credit?
Starting in 2014 you may be eligible for the “Advanced Premium Tax Credit” (which was created as part of the Affordable Care Act). If youare eligible, this could substantially reduce the cost of your Colorado health insurance plan. In order to determine your eligibility for these tax credits, consider these questions: 1. Are you eligible for…
Not right away. The Colorado Health Exchange will initially serve individuals buying insurance for themselves and their families. Most people will continue to get their health insurance through their employers via Colorado Group Health Insurance. Colorado is also setting up a separate exchange for small businesses called the “Small Business Health Options Program” (SHOP). Individuals may…
Colorado Health Insurance Exchange
If your employer does not offer health insurance, then beginning in 2014 you will be eligible to purchase your Colorado health insurance from the Colorado Health Insurance Exchange. What is the Colorado Health Insurance Exchange? Colorado’s health insurance exchange will be a competitive and transparent marketplace where you can purchase health insurance (even if you…
