DENVER - Today, Governor Polis, Lieutenant Governor Primavera, and the Division of Insurance (DOI) announced the beginning of Colorado’s annual Open Enrollment period, beginning today November 1, 2023, through January 15, 2024. Open Enrollment provides Coloradans the opportunity to browse and select the healthcare plan that is right for them, and their family, from a competitive marketplace.
This year, more financial help is available to cover health insurance costs than ever before. Due to the American Rescue Plan, there’s no income cap to qualify for financial help, and Coloradans of most income ranges are eligible for reduced premiums. Additionally, people with income below a certain amount can qualify for plans with $0 premiums and even more cost-sharing reductions than in previous years.
To compare healthcare coverage plans, maximize your cost savings, and determine your eligibility for financial assistance, visit Connect for Health Colorado’s website.
“Colorado’s competitive health insurance market provides choices to individuals to decide which healthcare plan works best for them or their family. Those without employer healthcare can choose between many plans through Connect for Health Colorado,” said Governor Polis. “This year, we are saving Coloradans $411 million in premiums through the Reinsurance Program, and the Colorado Option plans offer even more ways to save — without these important programs, Coloradans would be paying much more for health insurance. But there is more work ahead to save people money on healthcare”
Many Coloradans currently receiving financial assistance through Connect for Health Colorado may see no change or even a decrease in their premiums, when their assistance for 2024 coverage is calculated. With this assistance, eligible Coloradans - people making up to $36,450 for an individual or $75,000 for a family of four - will be able to shop for plans with deductibles as low as $100.
“Here in Colorado, we are working to make health insurance more affordable—from building new pathways to coverage, like OmniSalud, to expanding financial assistance that can reduce deductibles and other out-of-pocket costs like co-payments and coinsurance,” said Lieutenant Governor Primavera who is also the Director of the Office of Saving People Money on Health Care. “During open enrollment, it is critical to take time to find out what assistance you are eligible for and choose the health plan that best fits your needs.”
All of this financial assistance is available to those enrolling through Connect for Health Colorado, the state’s health insurance marketplace. Coloradans can compare the health insurance plans available for 2024 and determine what financial assistance is available by using Connect for Health Colorado’s Quick Cost and Plan Finder Tool. This year Connect for Health welcomes Select Health as a new available insurer.
Open enrollment for 2024 individual health insurance runs from November 1, 2023, through January 15, 2024. People enrolling November 1 - December 15, will have their coverage start on January 1, 2024. For those who wait to enroll between December 16 and January 15, coverage will start on February 1, 2024.
Saving Coloradans money on healthcare and expanding access is a top priority of the Polis-Primavera Administration. The administration has continually taken actions to make healthcare accessible and affordable to all Coloradans, these actions include:
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Governor Polis signed bipartisan legislation HB19-1168 State Innovation Waiver Reinsurance Program, sponsored by Representatives Julie McCluskie and Janice Rich and Senators Kerry Donovan and Bob Rankin, which is saving Coloradans $411 million on premiums this year.
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Governor Polis signed bipartisan legislation HB19-1216 Reduce Insulin Prices, sponsored by Representatives Dylan Roberts and Kerry Donovan, and Senator Kevin Priola, which capped the cost insulin costs at $100 for a 30-day supply.
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Governor Polis signed HB21-1232 Standardized Health Benefit Plan Colorado Option, sponsored by Representatives Dyland Roberts and Iman Jodeh, and Senator Kerry Donovan, which created the historic Colorado option.
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Governor Polis signed HB23-1224 Standardized Health Benefit Plan, sponsored by Representatives Kyle Brown and Iman Jodeh and Senator Dylan Roberts, which built upon the historic Colorado Option, created more affordable options, holds carriers accountable for rate reductions, and created a more efficient public hearing process.
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