The new healthcare law was signed in 2010 and as a result, the health insurance marketplace was formed. The marketplace for the state of Colorado is referred to as Connect for Health Colorado and this exchange has a variety of plans that are suitable for everyone, including single individuals, small families, and also employers who want to offer healthcare to their employees.
This new exchange has many features, including the ability to let individuals know what plans they might qualify for and how they will be covered. This is a great resource for people who have never been on a health insurance plan due to the fact that they could never afford to do so. People can take a look at the different benefits that these plans offer so that they can choose the best plan for their family.
They are currently 150 difference health care plans available for families and individuals across Colorado, and there also a wide variety of options for companies that want to offer healthcare insurance to their employees. They can choose from a well-known providers like Access Health Colorado, SeeChange Health, Cigna and Kaiser Permanente. This means that there are many different options to choose from and individuals will easily find a plan that suits their needs.
Essential Benefits
The new Act requires all health care plans to offer certain essential plans to all its members and this includes emergency services, prescription drugs, hospitalization, preventative services, as well as maternity and new-born care. These benefits should be available to all new and existing members.
The Costs
there will be different levels of coverage available, and individuals can choose from four basic levels. Some of the more affordable plans will have lower monthly premiums but that he will cause higher expenses for medicine and some services that need to be paid by the members. People earning less than $ 15 000 a year will likely be able to qualify for Medicaid.
Tax Credits
Tax credits will be available as of 2014, and this will be applicable to individuals who have an income of 100 – 400 % of the poverty level. There will also be an additional benefit as of 2015, which will allow for an out-of-pocket payment that is limited to $ 6,350 on all individual health care plans. The aim of this benefit is to prevent people from going bankrupt due to huge medical bills.
Individuals are encouraged to familiarize themselves with the details and the benefits of the new healthcare Act, so that they know what plans they will qualify for and whether or not they will be eligible for any tax credits for discounts.
HealthLine.com is a popular resource that offers expert health advice from qualified professionals and experienced contributors. Find out more about the new Act from Healthline.com.