Affordable Health Insurance
Affordable Health Insurance
According to America’s Health Rankings, Colorado ranks 37th in the nation in terms of percentage of population lacking health insurance, with 16.1% of its population lacking health insurance.
Colorado’s health insurance companies determine rates for individual insurance policies based on geographical location, age, medical history and other rating factors. Individual insurance policies are subject to medical underwriting and can be denied due to pre-existing medical conditions for twelve months.
When do you need to buy individual Colorado Health Insurance?
One needs to pursue individual health insurance if all of the following are true:
a) If your employer does not offer health insurance benefits
b) If you cannot be named as a dependent on another person’s insurance policy
c) If you are not a member of a professional or a trade organization that offers health insurance
Types of Health Insurance in Colorado
a) Indemnity Policies (Traditional Fee for Service Health Insurance)
Indemnity Policies offer tremendous freedom with respect to choice; one is free to visit any provider in Colorado for covered medical services.
b) Preferred Provider Organization (PPO)
A Preferred Provider Organization provides a list of contracted providers; one receives the best services at the lowest cost if one restricts oneself to the limited list of providers in Colorado for their health insurance needs.
c) Health Maintenance Organization (HMOs or Managed Care)
HMOs require members to obtain their medical services from doctors and hospitals affiliated with the particular HMO in Colorado for their health insurance needs.
d) Self-Insured Health Plans
Large employers in Colorado often have self-insured health insurance plans where all contributing employees pool in their contributions to pay for the medical services for the members of the plan.
State of Colorado’s Health Insurance programs
Colorado’s Child Health Plan Plus
The State of Colorado provides health insurance services to uninsured children under the age of 18 and pregnant women who are not eligible for Medicaid.
Colorado’s Senior Health Insurance Assistance Program
The Senior Health Insurance Assistance Program is an organization in the Colorado Division of Insurance, and it helps individuals enrolled in Medicare with questions about health insurance.
Colorado’s Medicaid Program
Colorado Medicaid is public health insurance for families, children, pregnant women, persons who are blind or persons with disabilities and the elderly for Colorado residents.
Colorado Health Insurance Regulations
Colorado-COBRA
The Consolidated Omnibus Budget Reconciliation Act (COBRA) is federal law that extends one’s current group health insurance under certain qualifying events such as termination of employment or reduction of hours to part-time status. To be eligible for COBRA, the employer needs to have more than 20 employees.
Colorado has a mini COBRA law that provides COBRA provisions for employers less than 20 employees and provides employees with ability to extend one’s group coverage for six months under certain qualifying events such as termination of employment.
Resources for Health Care Insurance in Colorado
Georgetown University’s guide to Health Insurance in Colorado
Georgetown’s Health Policy Institute has researched and written state guides for buying affordable health insurance in every state.
US News Rankings for best commercially-available health plans. Rankings reflect member satisfaction and success in preventing and treating illness compared with other commercial plans. The highest possible score is 100.
Health Care Advocacy Groups in Colorado
Colorado Health Care Association and Center for Assisted Living
CHCA and each of its active facility members are members of the American Health Care Association (AHCA) and National Center for Assisted Living (NCAL), a national organization representing more than 11,000 long-term care facilities dedicated to improving health care for the convalescent and chronically ill.
Colorado Consumer Health Initiative
A non-profit organization of consumers and advocates working together to empower medical care consumers, and break down barriers that deny access to quality healthcare.