I’m currently insured through my employer

Employed1If you have health insurance but want to compare your options through Colorado’s health insurance exchange  (Connect for Health Colorado) as well as your options direct with the insurance companies, make sure you have a basic understanding of household income and spending and give us a call (303-667-7123). You may qualify to receive subsidies or discounts on plans for next year if your employer’s coverage does not meet certain qualifications. The only way you may be eligible for any financial assistance to hep you pay for an alternative plan – is if the amount you pay for your employer plan is 9.5% or more of your income or is not a minimal value plan (such as a limited benefit plan).

If you’ve had your current plan since before March 23, 2010, it is “grandfathered” under health care reform law. You may choose to remain covered by this plan. However, if your current plan makes changes that reduce your coverage or increase your costs, it could lose it’s grandfathered status. At that point, you would be required to select a new health care plan.

Health care reform laws require some businesses to improve coverage, which may mean additional benefits and/or lower costs to you. This is especially true for small group insurance plans. In fact, small group insurance plans that are sold or renewed after January 1, 2014, must include all “Essential Health Benefits” Essential Health Benefits include: Hospitalization, emergency services, maternity and newborn care, mental health and substance use disorder services, prescription drugs, laboratory services, pediatric services, preventative management services, ambulatory services, and rehabilitative services.

If you have dependents on your employer’s plan, it is always advisable to look at options for purchasing the insurance for them outside the employer environment. We are happy to help you evaluate those costs.

However, changes might also include reductions in the number of doctors and hospitals available to you. It’s important to know now if the doctors and facilities you want will be covered in 2014. Before shopping around, ask your employer if any changes are planned for your insurance coverage for 2014. Then give us a call so we can look at what options may be available to you.