Colorado Health Insurance Deadline for 2024
That’s the last day of open enrollment for individual and family health insurance plans under the Affordable Care Act in Colorado – and in most other states – unless you have a qualifying life event that triggers a 60-day Special Enrollment Period.
However, if you want your health insurance policy to become effective as of January 1st, you must complete your enrollment by December 15th.
Otherwise, your new plan won’t become effective until February 1st.
What if I’m Already Enrolled in the Health Plan?
If you are already enrolled in the plan, and you don’t want to change your plan, you don’t need to take any action. Your plan will automatically renew for 2024 as long as you keep paying premiums.
What is the Deadline for a Health Sharing Plan?
There is no deadline. Health sharing plans don’t have limited enrollment periods. You can enroll in a health sharing plan at any time during the year.
However, health sharing plans may impose waiting periods before the cost of treating certain pre-existing conditions becomes fully shareable.
If you have significant pre-existing conditions, it’s important to sign up for a traditional health insurance plan during the Open Enrollment period in your state.
Otherwise, you could be locked out until January 1st next year.
However, if you miss your open enrollment deadline for health insurance, you can still sign up for a health sharing plan. These plans won’t share pre-existing conditions. But they will share costs for everything else defined as shareable under their membership guidelines.
COLORADO HEALTH INSURANCE
ColoHealth is one of just a handful of health benefits brokerages able to talk to you about all your options, whether it’s traditional health insurance, or a lower-cost health sharing plan.
Many health insurance agents can’t or won’t talk to you about health sharing plans. The big insurance companies and their sales managers even let them!
That’s because health sharing plans save too much money:
Health sharing plans routinely cost 40% to 50% less per month than the unsubsidized cost of a traditional Marketplace health insurance policy.
At ColoHealth, we are proud to represent all the best traditional health insurance carriers and all the top health sharing ministries active in Colorado.
So you can know about all your options, including health insurance, health sharing, health savings accounts, and direct primary care.
Need Help for the Colorado Health Insurance Deadline For 2024?
Click here for free help selecting and enrolling in the best possible health plan for your needs and budget.
Here are some additional blogs for further reading: Best Health Plans in Colorado for Families | The Colorado Health Insurance Open Enrollment Guide 2024 | Colorado Residents: What to Do When You Miss Open Enrollment in 2024
Frequently Asked Questions About Health Insurance Open Enrollment and Colorado Health Plans
What is health insurance open enrollment, and when does it occur?
Health insurance open enrollment is a designated period during which individuals can enroll in or make changes to their health insurance plans for the upcoming year. This period typically occurs annually and may vary depending on the type of coverage, but it often falls between November and December.
Can I enroll in health insurance outside of the open enrollment period?
In most cases, you can only enroll in or make changes to your health insurance plan during the open enrollment period. However, certain life events, like getting married, having a child, or losing other coverage, can trigger a Special Enrollment Period (SEP) that allows you to make changes outside of the typical enrollment period.
How do health insurance subsidies work?
Health insurance subsidies, such as Premium Tax Credits under the Affordable Care Act (ACA), are financial assistance programs designed to make health insurance more affordable for eligible individuals and families.
The amount of the subsidy you receive depends on factors like your income and household size. These subsidies are typically applied directly to your monthly premium, reducing your out-of-pocket costs.
Your ColoHealth Personal Benefits Manager can help you calculate any available subsidies. And whether you will be better served by a health sharing plan or a traditional health insurance plan.
Every situation is different. There’s no one-size-fits-all. It takes a detailed personal analysis to find the optimal health plan for your situation.
Can I get subsidies for health sharing plans?
Health sharing plans are not eligible for government subsidies like those offered for traditional health insurance plans.
Are pre-existing conditions covered during health insurance open enrollment?
Yes, under the ACA, health insurance plans must cover pre-existing conditions. Insurers cannot deny you coverage or charge you more based on your health status during open enrollment.
How do pre-existing conditions work with health sharing plans?
Health sharing plans may have different policies regarding pre-existing conditions.
Some may provide coverage for pre-existing conditions after a waiting period, while others may exclude certain conditions altogether.
Most people with pre-existing conditions requiring ongoing medical treatment should enroll in traditional health insurance plans, rather than health sharing plans.
Which plans let me choose my own doctor in Colorado?
If you want maximum flexibility in choosing your own doctor, you should consider health sharing plans, rather than any of the traditional health insurance plans offered via the Colorado health insurance marketplace.
Thanks to the Affordable Care Act, and a number of ill-conceived mandates passed by the Colorado state legislature, only a handful of companies are still doing business selling health insurance to individuals and families in the Rocky Mountain State.
And of those that are, all of the plans they’ve made available are HMOs.
These are managed care organizations that impose limited networks of authorized care providers.
Colorado residents who rely on a government subsidy to be able to afford health insurance have no other option. The old indemnity-style plans that let patients use their benefits with any provider have been effectively driven from the state.
Health sharing plans, in contrast, are not managed care organizations. They typically allow patients much more freedom to choose their own doctors, clinics, hospitals, and other providers than they enjoy under any HMO.
Note: If you have significant pre-existing conditions, or you get a significant subsidy under the ACA, it may still make sense to stick with traditional health insurance.
Especially if your HMO has a solid provider network in your area.
What are the advantages of choosing health sharing over traditional health insurance?
Health sharing plans generally cost up to 50% less than a traditional health insurance plan before accounting for government subsidies.
Health sharing plans also provide more flexibility in choosing healthcare providers and may align with certain personal or religious beliefs.
Additionally, some people prefer the sense of community and shared responsibility that health sharing plans offer.
Is dental and vision coverage included in health sharing plans?
Dental and vision coverage is typically not included in health sharing plans.
Individuals may need to purchase separate dental and vision insurance or seek standalone coverage for these services.
What happens if I miss the health insurance open enrollment period?
If you miss the open enrollment period and do not qualify for a Special Enrollment Period, you may have limited options for obtaining health insurance.
You might explore short-term health insurance or consider health sharing plans as alternatives.
Your Personal Benefits Manager can help provide solutions to cover temporary coverage gaps until you have the opportunity to enroll in a more permanent plan.
Can I switch from health insurance to a health sharing plan or vice versa during open enrollment?
During open enrollment, you can switch from health insurance to a health sharing plan or vice versa, provided you meet the eligibility criteria for the plan you wish to join.
What should I consider when choosing between health insurance and health sharing?
When choosing between health insurance and health sharing, consider factors such as your budget, preferred healthcare providers, coverage needs, pre-existing conditions, and any personal or religious beliefs that may influence your decision.
Do health sharing plans cover preventive care and wellness visits?
Yes, many health sharing plans cover preventive care and wellness visits as part of their benefits, similar to traditional health insurance plans.
However, some are designed to work with direct primary care. In this case, your direct primary care membership would handle preventive care, wellness visits, and other routine care normally provided in a doctor’s office.
Your health sharing plan would kick in when you need specialist care, an ER visit, surgery, imaging, or other services.
Many people find they can save money and have a much better overall health care experience by dropping traditional health insurance, and instead combining a direct primary care membership and healthsharing.
Each plan is different, though. Your Personal Benefits Manager can help you select the best plan for your needs.
Can I use a Health Savings Account (HSA) with health sharing plans?
Some health sharing plans may allow you to use an HSA to save for qualified medical expenses.
If this concept appeals to you, tell your Personal Benefits Manager.
Lou believes that when it comes to healthcare, the power should be in the hands of the consumer, as opposed to the hospitals and insurance companies. This means empowering the clients with the knowledge and tools they need to make the right decisions for their health, wealth, and happiness.