Affordable Health Insurance in Denver: Get The Cheapest Plan

Updated: November 9, 2022
affordable health insurance in Denver
Category:

Do you know how to get affordable health insurance in Denver? There are numerous affordable health insurance options available, whether you are looking for coverage for yourself or your family. You can join your company’s plan or apply for Medicaid or Medicare (if you are eligible). There are government-funded health plans for direct policies from insurance companies, kids, and Affordable Care Act alternatives through the Health Insurance Marketplace.

Affordable Health Insurance in Denver: What You Should Know About?

Marketplace plans You can purchase a private plan in Denver if you are self-employed, your employer does not provide group coverage, your employer’s plan does not fit your needs, or the plan does not cover your spouse or dependents. Plans can be purchased from insurance companies, brokers, and agents. When you buy insurance outside the exchange, you will not be eligible for premium tax credits or other income-based savings.
Special Enrollment If you experience certain life-changing events, including a wedding, having or adopting a baby, losing healthcare, or relocating, you have a 60-day special enrollment window to buy or change plans.
Open

Enrollment

Open enrollment for Colorado affordable insurance coverage beginning in 2022 goes from November 1, 2021, to January 15, 2022.
Coverage types A bit more than half of Colorado people have medical coverage through their work, nearly 17% have Medicaid, and nearly 13% have Medicare. Another 7% of people have non-group health insurance coverage, and roughly 2% receive military health care benefits. Approximately 8% of Coloradans remain uninsured.
Expanded availability Denver healthcare changes for 2021 included:
  • A prolonged enrollment period as a result of COVID-19.
  • Substantial premium cutbacks with more financial assistance available to individuals with higher income levels.
  • $ 0 or minimal health insurance premium alternatives for anyone receiving unemployment benefits for at least one week in 2021.
Connect for Health Denver Almost all Denver who is city residents, legally residing in the United States, and not incarcerated can obtain health insurance through Connect for Health Denver. These plans are available for purchase online.  You can also enroll by phone, in person at a registration center, or via an insurance agent.

Affordable Health Insurance in Denver: For Individuals 

Insurance coverage prices in Denver is determined by how you split healthcare expenditures with the insurance company. Rates often vary by state, city, and county. The most economical health insurance carrier isn’t necessarily the best option; you may have to pay extra for superior customer service and plan flexibility.

If cost is your top concern, you should comprehend the connection between marketplace metal tiers, maximum out-of-pocket costs (MOOP), and premiums. The lower the premium, in general, the higher the MOOP. Look for your selected health insurance provider’s deductible, and co-insurance, copay, which are not included in your premium. 

Bronze & Catastrophic packages have the cheapest prices among metal tiers. Although if you are protected from catastrophic situations, you may not be adequately covered for your daily health care needs.

Metal Tier Cost Company
Gold $361 Denver Health Medical Plan
Silver $330 Bright Health
Bronze $259 Friday Health Plans
Expanded Bronze $263 Bright Health

Some insurance carriers offer Expanded Bronze plans if you require a plan that falls between the Silver and Bronze categories. Expanded Bronze plans offer a little extra coverage by covering at least one major service before you have to pay a deductible.

Affordable Health Insurance in Denver: For Families 

Families has access to the same insurance carriers as single adults because family plans are identical to individual plans (with the exception that they cover countless individuals rather than a single person). 

Free wellness programs, including those targeted at women and children, are critical inclusions for families in all Connect for Health Denver plans. However, if your family hasn’t fulfilled your annual cap, these services are covered without a coinsurance or copay. 

Compare your package alternatives thoroughly to discover one that fulfills the requirements of everyone in the family. This can become tricky depending on the number of relevant persons, and members of the family may be covered under multiple plans under the same policy. 

Before enrolling in a plan, remember to take into consideration any specific requirements, physician preferences, and medication needs of all family members.

Another factor to consider for family plans is that many include both an individual and a family deductible. Suppose one of your family members is hospitalized or has an expensive procedure. In that case, you may meet the family threshold earlier than everyone else on the plan has met their own deductible.

affordable health insurance in Denver

How to Find Affordable Health Insurance in Denver?

There is no single health insurance plan that is appropriate for everyone. Instead, look for a health insurance company in Denver that offers solutions that fit your healthcare needs while remaining within your budget.

For example, if you don’t anticipate needing medical services in a given year, a high-deductible plan with a low premium may be appropriate for you. On the other hand, if you think you’ll require more specialized care, purchasing a higher cost may be worthwhile because you’ll spend less money out of pocket.

Medicaid in Denver

Health First Denver is Colorado’s state-sponsored Medicaid program, which provides free or low-cost health care for adults and children to qualify. Visits to the doctor, emergency departments, urgent care, hospitalization, well-child visits, maternity coverage, prescribed medications, and dental surgery ( best dental insurance provider) are among the benefits and services provided by Health First Colorado. To be eligible, you must be:

  • An inhabitant of Colorado
  • 65 years of age or older
  • A citizen, permanent resident, or lawful alien of the United States
  • In charge of a child under the age of 18
  • Blind
  • Pregnant
  • Disabled

Child Health Plan Plus 

Child Health Plan Plus in Denver provides low-cost to select youngsters and pregnant women health coverage. If you make too much to be eligible for Health First Denver, you or your child may still qualify for CHP+, so the standards are different. 

CHP+ provides coverage for medical appointments and routine care, including vaccination, emergency medical care, and some other services. Children under the age of 18 and pregnant women under the age of 19 who do not qualify for Medicaid, are not covered by other coverage, and have a family income of less than 260% of the Federal Poverty Level may be eligible for CHP+. 

The cost of CHP+ is determined by the size and income of your household. At the time of service, a yearly enrollment fee or copays may be requested. American Indians, Pregnant women, & Alaskan Natives, on the other hand, do not have to pay copays or premiums.

Medicare Options for seniors and People with Disabilities?

Medicare, the federal government-run insurance program, can provide health care coverage to Colorado residents over the age of 65 and younger people with qualifying disabilities.

  • Part A covers inpatient care nursing institutions & hospitals, as well as hospice care and in-home nursing services, and Part B covers doctor’s appointments, outpatient treatment, preventative care, medical equipment, & other associated services.
  • Individual insurance companies sell Medicare Advantage Plans. These plans provide all of the benefits given by Original Medicare, as well as optional features such as prescription medication coverage, dental, vision insurance plans, and other services.

You can also acquire a Medigap plan, that is, Medicare Supplement insurance, to help you with your Original Medicare deductibles, coinsurance, and copay.

Short-Term Health Insurance Plan Options in Denver

If you need coverage between jobs or while waiting for open enrollment, short-term health insurance is an economical choice. Keep in mind, however, that short-term health insurance policies are not a long-term care substitute for marketplace plans:

  • Short-term plans may not offer all of the necessary benefits of a marketplace plan.
  • Pre-existing conditions may result in a coverage denial.
  • Short-term health insurance does not qualify for subsidies or tax credits.
  • Short-term health insurance with lower premiums has substantially higher co-insurance and copays.

How Do I Enroll in the Denver Health Insurance Marketplace?

Denver people use the Colorado healthcare marketplace. Because Colorado is one of only a few states with its own health insurance marketplace, you’ll enroll through the state’s website rather than HealthCare.gov. 

New participants can begin by registering on the Connect for Health Colorado website. Fill in your name, email, and mobile number, then select a password and language preference (either English or Spanish). 

You can continue working on your profile and fill out an application for insurance coverage when you confirm your account via an automatic email message. 

You will need many types of data to complete your registration application, which will be used to evaluate if you need an individual or family plan, as well as whether you qualify for financial assistance with your premiums. These are some examples:

  • Information regarding your tax filing status and the dependents you claim
  • Everyone in your household’s names and birthdates
  • Your mailing address, as well as the mailing address of anyone in your household who lives at a different address.
  • Social Security numbers are required for everyone applying for coverage under your plan.
  • Immigration documentation for any noncitizen household members requesting coverage
  • Every household member’s employer and income information

After you’ve created an account, you may shop online and compare available plans from various health insurance carriers. You can also apply for financial aid to help you save money on health insurance and get support from trained enrollment professionals.

Best Colorado Health Insurance Providers for Denver People

In 2021, the following insurance companies will offer plans on the Colorado Marketplace exchange if you are from Denver you can pick your plan from there:

  • Anthem (HMO Colorado, Inc.)
  • Denver Health Medical Plan, Inc.
  • Kaiser Foundation Health Plan of Colorado
  • Bright Health Insurance Company
  • Rocky Mountain Health Maintenance Organization, Inc.
  • Friday Health Plans
  • Oscar Health Plan

How Much Does Health Insurance Cost in Denver

Denver’s health insurance policies are divided into three coverage tiers known as health insurance metal tiers. These tiers assist you in determining which plan level is best for you or your family based on how frequently you anticipate needing medical care.

Since 2018, the average lowest cost of insurance premiums has been reduced for all three tiers. This is good news for Denver consumers who do not qualify for premium assistance because the decreased trend saves them money on their monthly rates.

Average Premium 2019 2020 2021 2022
Gold $495       $385 $383 $353
Silver $475 $353 $346 $345
Bronze $363 $280 $273 $269

Tips for Finding the Right Coverage in Denver 

Compare and search around for different plans before purchasing health insurance coverage in Denver. NewHealthInsurance compiled these tips to assist you in selecting the best one for your healthcare needs.

Know Where to Start 

Work, your parents (if you’re younger than 26 years old), the medical insurance marketplace, or government sites are all excellent places to start looking for health insurance.
Keep in mind the enrollment deadlines Marketplace plans are often only accessible for purchase or exchange during open enrollment (However, qualifying circumstances exist). Keep an eye out for open enrollment deadlines, which are frequently only a few weeks apart.
Identify Your Health-Care Requirements When selecting a health insurance plan in Denver, your healthcare preferences and needs should be a guiding concept. Check the advantages overview of a scheme to see if it fits with them. If you have a preferred physician, make sure they are part of the plan’s network.
Calculate the Costs Examining the premium, coinsurance, copay, and deductible will assist you in budgeting appropriately. A lower premium, for example, usually means a higher maximum out-of-pocket expense (MOOP). If you’re still undecided, silver plans provide a solid middle ground.
Assess Your Prescriptions If you take medication, check with your preferred carrier to see if it is covered or, at the very least, inexpensive in your selected health insurance plan.
Pick Your Policy The cheapest health insurance plan may not meet the demands of every individual. However, if you are confident in the coverage provided by the most affordable plan, you are free to acquire it.
Get A Free Affordable Health Insurance Quote