Under the Affordable Care Act [Obamacare] most individuals are required to have health insurance in 2014 or face a tax penalty which can be up to 1% of their income.
Connect for Health Colorado is a health insurance marketplace created for Coloradans to shop for insurance, compare plans and apply for subsidies to help pay for insurance.
Subsidies are available for individuals who make up to 400% of the federal poverty level ($45,960 annual income for an individual). Individuals who have Medicare or insurance through their employer are not affected by these changes.
Purchasing health insurance is a complicated process. This checklist can be a helpful tool for identifying your needs; contact Connect for Health Colorado or call an MS Navigator at 1 800 FIGHT MS to assist you with the process.
Important dates for purchasing health insurance:
October 1 – March 31: The open enrollment period where individuals are able to purchase insurance coverage for 2014. This is the only period where individuals will be able to purchase insurance in the Marketplace unless they have a “life change event” such as change in income, losing or starting a job or having a child.
December 23: Purchase insurance by December 23 for coverage that starts on January 1.
February 15: Purchase insurance by February 15 for coverage that starts on March 1 and avoid the tax penalty.
March 31: The last day to purchase health insurance for 2014 unless you experience a “life change event.”