The state motto may be “Colorful Colorado,” but when it comes to affordable health insurance, Colorado is as black and white as the rest of the country. Residents either have coverage, or they don’t. But having sufficient coverage means something totally different for a healthy, young adult who is still trying to build his fortune than it might for an older citizen with a healthy nest egg and a few more medical problems.
Different lifestyles, medical histories and budgets all add up to one thing: different health care needs. Fortunately, that’s exactly what we at netQuote specialize in. We specialize in finding the right plans for each client. We go through our database of health care plans in Colorado to help you find the perfect plan for you.
Colorado Health Insurance by the Numbers
Colorado doesn’t have the highest uninsured percentage of its population, but it’s solidly in the higher segment. With 10 percent of its population lacking health insurance of any kind, Colorado is ranked the 13th lowest insured state in the nation. Just over half the population (52 percent) receives health insurance benefits from their employers, with another 16 percent on Medicaid and 13 percent on Medicare. The rest either get their insurance plans through a nongroup option or another public entity.
What this means is that there are far too many people in Colorado who are either uninsured or underinsured. The goal at netQuote is to decrease that number by helping people to find plans that better fit their budgets and their lifestyles. We recognize that this means different plans for different people; we’re not trying to just get people any plan — we want to match each user to the right Colorado health insurance plan for them.
What Factor Does the ACA Play in Finding Colorado Health Insurance?
In 2010, the United States Congress instituted the Affordable Care Act, more commonly known as “Obamacare,” which includes a requirement for everyone in the United States to retain adequate healthcare coverage. Those who don’t have health insurance — including the 10 percent of Colorado residents who are uninsured — will instead need to pay a fee for any month they don’t have adequate coverage.
This fee is paid at the same time people file their federal tax returns. Some individuals qualify for an exemption from this fee. You can check healthcare.gov for more information on those exemptions. Depending on an individual’s income, they will pay either a percentage of their household income or a flat rate, whichever is higher. For example, for 2017, the fee for not having insurance is as follows:
- 2.5 percent of household income
- $695 per adult
- $347.50 for each child under the age of 18
The maximum amount for that fee is $2,085, or the total amount of a yearly premium for the national average cost of a Bronze plan that is sold through the Marketplace.
Each Individual and Family is Different—Their Plans Need to Be, Too
When it comes to health insurance, there is no “one-size-fits-all” plan. Insurance plans are based on measuring risk and balancing it with needs. That’s why netQuote is intent on finding the perfect plan for each user. One user may have no dependents and be in the peak of health, but be focused on saving money as they work through some financial issues.
That individual will likely be more interested in a plan that covers the basic needs in the event of an emergency without costing an arm and a leg each month in premium fees. Such a plan will likely have a higher deductible, but the risk is lower for this individual, and the savings on the premium may be worth it to them.
Meanwhile, a family with two or three children are going to likely run into more health issues each year. Children get sick and injured on a regular basis, and even if they don’t run into any major issues, they have regular check-ups and follow-up appointments with their doctors. This family has a higher chance of accruing significant medical fees over the course of a year and will target a lower deductible so those benefits will kick in sooner.
This will lead to higher premium fees, but in the end, the savings can outweigh the benefits.
Determining which plan is right for you can be overwhelming, but that’s our specialty. Experts at netQuote will work with you to find a plan that suits your needs. We just need some basic information from you to help narrow down all the health plans in Colorado until we find one that matches your health needs and budget.
Contact netQuote Now to Find the Best Insurance Plan for You
It’s easy to get started on your search for the best Colorado health insurance plans available for you and your family. Simply fill out our online form. We will ask you for some basic information that will help us in our search, such as the size of your household, some basic health information and an estimate range of income. Once we have received that information, we will begin our search and get in touch. We will then work with you to determine exactly which health insurance plan will be right for you.