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Affordable Care Act

What you should know as a Coloradan

For more detailed information about Colorado's Health Care requirements, click here:


Connect for Health Colorado helps us answer your questions:


Do I really need health insurance?

Buying health insurance helps to protect you and your family from having to pay high costs when one of you is injured or becomes ill and needs medical care. No one plans to get sick or hurt, but most of us need to be treated for an illness or injury at some point in our lives. Health insurance helps pay these costs. In addition, health insurance helps cover the costs of wellness care that can prevent illness and promote good health. The cost of health care has gone up sharply over the past few decades. A serious injury or illness or other major medical need can cause major financial problems if you don’t have health insurance. Medical bills are the top cause of personal bankruptcy in this country. Having health insurance protects your health and your financial future.


Do I have to buy it?

Starting January 2014, most people will be required to have health insurance or pay a fee to the federal government if they don’t. Health insurance coverage can include employer-provided insurance, coverage you buy on your own, Medicaid or Medicare. Several groups of people are exempt from the requirement to obtain coverage, including people who would have to pay more than 8 percent of their income for health insurance. 

If you are applying for an exemption based on: coverage being unaffordable; membership in a health care sharing ministry; membership in a federally-recognized tribe; or being incarcerated:You have two options–You can claim these exemptions when you fill out your 2014 federal tax return, which is due in April 2015 December 20, 2013 Update: Connect for Health Colorado is working with insurance carriers and State partners, including the Colorado Division of Insurance, to review new information announced by the federal government related to consumers who have received cancellation notices for their insurance. We will provide information to customers as soon as possible about any changes in options available to them.

Health Care Reform Timeline

Kelmeg & Associates are fully licensed and certified Brokers for Colorado Connect For Health

2014-2015

  • —Individuals must buy health coverage or pay tax (starts at the greater of $95 per person or 1% of household income)  
  • Employer shared responsibility (pay of play) rules; FTE definition and 90-day limit on eligibility waiting periods take effect
  • ——Expanded Medicaid; Small group insurance market reforms (guaranteed issue and renewability); No limits on pre-existing conditions for adults; No annual benefit limits; Cover cost of clinical trials
  • —Wellness rewards or incentives may increase in 2014 from 20% to 30% of the cost for single coverage. Employers pay quarterly fees for transitional reinsurance program


2016

  • States to form Health Care Choice compacts to offer purchase of insurance across state lines


2017

  • Employers with >100 employees can purchase coverage through health insurance exchange


2018

  • 40% excise tax levied on Cadillac plans


2018+

  • Uncertain effective date  for auto-enrollment provision made non-discrimination rules for insured plans