Colorado Health Insurance Marketplace Exchange Progress and Updates

When the Affordable Care Act (ACA, also known as ObamaCare) was signed into law in 2010, one of its major provisions was the creation of health insurance exchanges.  Each state will have an exchange up and running no later than January 1, 2014, although some states will opt to have the federal government run their health insurance exchanges for them. In June 2012, the Supreme Court upheld the ACA, including the mandate that requires everyone to have health insurance beginning in 2014.  The mandate was necessary to eliminate underwriting of pre-existing conditions. Some states – including Colorado – had already been hard at work creating their own health insurance exchanges before the SCOTUS decision, but there is still much work to be done in the next year.  The Colorado Health Insurance Benefits Exchange will begin accepting applications in October 2013, with coverage effective dates beginning in January 2014. In addition to being a marketplace where individuals and small businesses can compare health insurance options, the exchange will also be a one-stop shop where applicants can determine their eligibility for federal health insurance premium subsidies.  Those subsidies are expected to be a key aspect of making health insurance a bit more affordable for a good chunk of the population.  All individual and small group plans sold within the Colorado health insurance benefits exchange will have to provide “essential benefits” that are at least as good as those provided by the Kaiser small group plan that was recently selected as the state’s benchmark plan. (more details about the benchmark plan here).  Plans sold within the exchange will be classified as platinum, gold, silver or bronze depending on the percentage of costs that they cover (60% is the minimum level of coverage for “bronze” plans), and “catastrophic” plans will be available to select population groups (availability will be based on age and income: catastrophic plans will only be available to people under 30 or those with documented financial hardships who are unable to afford better coverage). It has been nearly a decade since we began offering online health insurance comparisons for our health insurance clients in Colorado, and we’re very familiar with the online health insurance shopping process.   We’ve been writing about the exchange-creation process ever since the ACA was signed into law, and we’ll continue to update this page as we add new information about the Colorado health insurance exchange.  If you have questions, please contact us.

Colorado Health Benefits Exchange Progress

Here are some of the articles we’ve written about health insurance exchanges, including many that are specific to the Colorado Health Benefits Exchange:

Last updated by at .