2019 Open Enrollment Info Coloradans Need To Know










As open enrollment period (OEP) is set to begin across Colorado on November 1, 2018 and lasting until January 12, 2019, some Coloradans could see an increase in rates reaching 5.6%, while some may realize slightly lower premiums. Officials have touted this rate hike as an improvement, although paying more in Colorado’s state exchange is hardly something to look forward to.

This Year’s State Marketplace Carriers

If you’re interested in enrolling for the first time, or want better coverage for less, you will have the following individual marketplace carriers to choose from, with their expected rate change this 2019 OEP:

  • Anthem (HMO Colorado, Inc.), -0.2%
  • Anthem (Rocky Mountain Hospital & Medical Service, Inc.), -2.6%
  • Bright Health Insurance Company, +6.5%
  • Cigna Health and Life Insurance Company, +8.1%
  • Denver Health Medical Plan, Inc., +21.6%
  • Friday Health Plans, +7.3%
  • Kaiser Fountain Health Plan of Colorado, +7.5%
  • Rocky Mountain HMO, +5.7%

All rate changes were approved by the DOI, and can reach almost 22% over what you’re currently paying.

Silver plans were hit the hardest since the responsibility placed on Colorado to enact cost-sharing reduction payments ended when the current administration pulled state funding. Even still, officials are lauding the premiums for 2019, calling them the lowest increases they’ve seen in ages.

If you are currently enrolled in a marketplace health insurance plan, it will automatically renew. However, the plan may make changes to its provider network, copays, co-insurance and drug coverage. Your plan must send you a notice of any changes it will make for 2019.

Take time to read the notice to see what it means for you. Make certain your doctors and preferred hospital are still in your network. Be aware, you may be able to use out-of-network doctors and hospitals, if you’re willing to pay more. In some cases, you might not be covered at all if you go out of network.
Remember, if you miss open enrollment for the health insurance exchange, you won’t be able to sign up for coverage until next year’s OEP unless you qualify for a special enrollment period.

What if I can’t afford the new premiums?

Once the marketplace opens in November, some may find premiums too high, especially if they can’t get subsidies to help offset the rising costs. If you’re one of them, don’t despair.

Colorado residents in similar predicaments have been switching to healthshare plans in staggering numbers since 2004, and remain today’s most viable option for persons wanting flexibility and lower monthly costs.

From AlieraCare to MPowering, ColoHealth has an equally competitive marketplace for people wanting health savings accounts, healthshare plans, even short-term care. Note that healthshare plans are not offered by insurers, and some may have certain restrictions. However, these restrictions are comparatively less than what some insurers place on their plans.

Health Care Sharing Ministries (HCSMs) pool together monthly contributions (“health shares”), then disperse them when medical needs arise. They’ve been around for quite some time, and have only grown since the advent of internet browsing.

Are you ready for Colorado’s OEP?

Open enrollment is right around the corner. If you want to switch to another health insurance carrier or you’re wanting to learn more about healthshare plans, your Personal Benefits Manager can help. They’ll never sell more than you need, and can put you and your spouse into a plan that suits your needs and budget.

Opt for a healthshare plan if current or potential health insurance premiums are too high, if you don’t qualify for a subsidy, or simply want something with flexibility that doesn’t compromise the level of care you’ll receive.

Contact one of our Personal Benefits Managers at 800-913-6381 to discuss the best option for you. The New Year will be upon us before you know it, so don’t wait!

  Date posted: Wednesday, October 31st, 2018
Category: faith-based plans, Health Insurance, Healthshare plans

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