Applying for Advance Premium Tax Credits
If you're wondering whether you qualify for a premium tax credit to lower your premium payment on Affordable Care Act plans, look no further than your certified ColoHealth Personal Benefits Consultant. We are certified by the Connect for Health Colorado marketplace to help you through the application process and select a health plan.
If your income is below 400 percent of the federal poverty level (FPL), you qualify for a premium tax credit (subsidy). You can get more tax credits (cost-sharing subsidies) if your income falls between 133 and 250 percent of the FPL.
Just follow these simple steps to get started
- Download, print and complete the Application for Health Coverage & Help Paying Costs. The form includes an authorization for us to assist you in applying for insurance and for your subsidy. (If you have questions about completing the forms, email us at firstname.lastname@example.org or call us at 800-913-6381.)
- Scan and email the completed forms to ColoHealth at email@example.com or fax them to us at 866-284-0082.
- If you are applying for a subsidy online, be sure to use the website feature that authorizes your ColoHealth Personal Benefits Consultant to assist you in the online process. This allows us to help you browse, select and enroll in plans, as well as to service your health insurance policy in the future. Click here to review the simple steps to authorize ColoHealth as your agent on the exchange.
ColoHealth marketplace-certified Personal Benefits Consultants
The next step is to help you find the best coverage for your situation at the most affordable price and with no obligation to you.
Once we have calculated your subsidy, we will find those plans that best meet your needs and calculate the premium for each (after applying the premium assistance amount that you qualify for). There may be other cost-sharing assistance available to you that will lower your deductible or coinsurance, so we'll search for those, too.
Together, we'll review your options. After you decide which plan offers you the best combination of coverage, provider network availability, and net premium, ColoHealth can do the work from there. We'll send in the applications for your premium subsidy to the government and for your insurance to your insurance carrier. You don't have to pay anything until your carrier confirms that your application has been received. At that time, we'll give you the instructions for sending in your premium.
Of course, we'll also follow up to ensure that your premium has been received, your subsidy has been applied, and your insurance is in force.
And if you don't qualify for a subsidy or decide that the exchanges are not for you
Not all ACA-compliant plans are on the Connect for Health Colorado marketplace. Unless you are applying for an advance premium tax credit, you can shop outside the exchange. If you want to include your subsidy application at the end of the year with your tax return, you can do that as well.
We can help you determine which insurance plan option is right for you, whether on the marketplace or off. If you need more information, contact us. There's no obligation. You can visit our website, email us at info@ColoHealth.com, or call us at 800-913-6381. ColoHealth's Personal Benefits Consultants are knowledgeable about your many options and are ready to help!