The Colorado Consumer Health Initiative (CCHI) analyzed plans filed by insurance carriers to be sold in the Connect for Health Colorado exchange, and released sample rates for 2014.
The following examples are estimated rates for silver level plans. Silver level policies are designed to cover 70% of all health care costs for the average person. Click on the headings for the full CCHI spreadsheets.
A single 27 year old living in Denver can expect to pay between $207 and $373 per month. A 40 year old resident of Denver may pay between $253 and $454, and a 55 year old between $ 441 and $793 come January.
A family comprised of 2 adults age 40, and 2 children under age 18 could pay between $718 and $1481 a month in Fort Collins.
Keep in mind that these rates do not include any subsidies, so many people can anticipate paying less. For example, let’s say our single 27 year old makes $30,000 a year. A subsidy of about $93 can be expected to help pay the premium. However, if the 27 year old makes $38,000, the subsidy drops to $1. Our family of 4 can expect a subsidy of $693 with a household income of $60,000. This family can expect a subsidy as long as their household income is less than about $94,200.
It’s also important to note that the ways insurance companies can rate up or down will be limited to geographic location, age (cannot vary by more than 3 times among adults) and tobacco use (no more than 15% rate up).
For an estimate of your subsidy on an individual or family plan, try Connect for Health Colorado’s tax credit calculator. Please also note, that come October 1, Sage will have access to all the broker resources on the exchange health insurance platform, so we will be able to help to ensure that you get the maximum subsidy that you are eligible for.
Yeah, but won’t it cost me more to use Sage instead of going straight the exchange?
No! Our service does not cost you a dime! Let us help you sort out all the health insurance options to ensure that you get the best plan, the greatest subsidy, and the best value. Just like we have done for the past 11 years, we are here to serve you…our loyal customers.