Marketplace Update
Staying Covered in 2015: Renewing, Shopping and Financial Assistance
What’s Changing in 2015 Health Insurance Coverage?

Competition in Colorado’s health insurance industry and lower plan prices have triggered
substantial changes for individuals and families that buy private insurance through Connect for
Health Colorado.

Overall, increasing competition has led to premiums for individual/family health plans bought
on the Marketplace staying fairly steady next year – with a statewide average increase of less
than 1% (0.58%) compared to 2014. But, the lowest-cost plans have changed, and premiums
locally may vary widely, so it’s important to review your choices carefully.

In particular, consumers who qualify for financial assistance in the form of a tax credit will see
their tax credit amounts changing. Before renewing a current plan or enrolling in a new plan, it
is important to shop and compare the new options. There likely are less expensive choices
that meet their health and budget needs – often with their same carrier.

It’s important that all customers understand their out-of-pocket costs; the least-expensive
premiums often have high deductibles and may not result in overall savings if people seek
medical care.

Additionally, many plans are changing their networks of doctors –people should confirm that
their healthcare provider is covered under their 2015 plan. They can use our Provider Directory
or call their insurance company or doctor to make sure.

In 2015, Coloradans will have even more choices for health plans bought through Connect for
Health Colorado. And, there are lower-cost options available in most regions.
What Coloradans Need to Know

It is important for people to shop and compare to see if there is a better choice to meet their
health and budget needs. Look at monthly premium prices, but also add the out-of-pocket
costs you’ll have to pay before insurance covers your medical care. Consider which doctors or
hospitals are in-network. And, make sure your prescriptions are covered.

There’s only one place for Coloradans to qualify for financial assistance (in the form of tax
credits) to lower their monthly costs – Connect for Health Colorado.

The amount of financial assistance an individual or family can qualify for is changing because the
costs of key plans have dropped in almost every region of the state.

Financial assistance is calculated based on the price of the second-lowest-cost Silver level plan in
an individual or family’s geographic area, and their household income and size. This is true
regardless of what level of plan they buy.

Because the cost of that Silver-level plan has dropped in almost every region of the state – so
will the average financial assistance levels in 2015 for those who qualify.
What Should Consumers Do?

Do your math: If your current plan is available to be renewed and you qualify for financial
assistance, you should carefully review changes in both amounts before making a decision to
renew or shop for a new plan.

If your current plan is available to be renewed, and your 2015 premium fits your budget, then
renew by December 15 to avoid a gap in coverage. If you do nothing, we will automatically reenroll you in the same plan. (You will receive a notice from Connect for Health Colorado with
instructions if you are eligible for automatic renewal.)

Take advantage of free, in-person help from certified Health Coverage Guides, from certified
Brokers or from a Connect for Health Colorado Customer Service Representative. These are
experts trained to help consumers understand the differences in options and walk them through
the enrollment process at no cost to the consumer.

You can find free, local assistance in your community on the ConnectforHealthCO.com website
(search by your zip code). Or, call 855-752-6749 and ask a Customer Service Representative to
help locate a Broker or Health Coverage Guide near you.

Take time to compare the various coverage plans available to you at ConnectforHealthCO.com,
and choose one that best fits your health needs and budget. There are more 176 health plans
for individuals and families offered by 10 carriers. Look at the range of choices online once
Open Enrollment begins November 15.

If you want to stay with your health insurance company, but the cost of your current plan is too
high or your needs have changed, shop on ConnectforHealthCO.com or call the insurer. They
may have plans that better fit your budget. But remember, the only place to qualify for financial
assistance is at Connect for Health Colorado.

If you are changing coverage – whether or not it involves changing your insurance company –
you should complete your enrollment by December 15 to avoid a gap in coverage and have
health insurance in place January 1, 2015.
Key Dates and Deadlines for Individuals and Families
 Open Enrollment: November 15, 2014 – February 15, 2015.
o You cannot purchase health insurance after this period unless you have a life-change
event such as marriage or divorce, having child, losing your employer-sponsored
insurance, moving to Colorado.
 Last day to enroll for coverage beginning January 1, 2015 is December 15, 2014. You must pay
your first-month’s bill by December 25.
 Last day to enroll for 2015 coverage (absent a life change event): February 15, 2015.