[box type=”info”] UPDATE 10/7/2013 For some reason, the individual/family health insurance subsidy calculator seems to have been removed from the Connect for Health Colorado website. As an alternative, The Berkeley Labor Center’s calculator has been widely cited as one of the more reliable individual/family tax credit calculators. Please note, however, that this is only an estimate and the premium estimates are based upon national average Silver plan pricing. For assistance with your actual tax credit determination for Colorado, contact us at 970.484.1250.[/box]
Colorado’s new insurance marketplace, Connect for Health Colorado, has just released a revised tax subsidy calculator for individuals and families. The calculator uses family size, age(s), income, and place of residence in order to estimate the amount of premium assistance the federal government will provide to those buying health insurance through the exchange. (The credit will be subtracted from the premium up front, and reconciled if needed on your tax return.) If you’ve already tried calculating your subsidy on their previous version, you should try again. This particular calculator is showing Colorado specific numbers, and the subsidies estimated are lower than what was shown before. Check it out to see what you may be eligble to receive:
Don’t get caught out in the rain without an umbrella come January! Sage Benefit Advisors agents are licensed both inside and outside the exchange, and are trained to give the best advice no matter what your particular situation. Enrollment in the exchange starts in October for a January 1 effective date. Give us a call today!