Open enrollment for individual and family health insurance is one of the few windows each year when Coloradans can sign up for or change a health plan without a qualifying life event. With enrollment season approaching, it's worth understanding what's changed, what to review, and how to avoid common mistakes.
Key Dates to Know
Colorado runs its own health insurance marketplace, Connect for Health Colorado, with an open enrollment period that typically runs from November through mid-January. Missing the window generally means waiting until the following year to enroll, unless you qualify for a special enrollment period due to a major life change like marriage, job loss, or the birth of a child.
What to Review Before Re-Enrolling
Many people default to auto-renewing their existing plan, but that's not always the best move. Before open enrollment closes, it's worth checking whether your doctors and preferred providers are still in-network, since networks change year to year. Premium and subsidy changes matter too, as income-based subsidies through Connect for Health Colorado can shift your actual cost significantly. Deductible and out-of-pocket maximum changes are worth reviewing, especially if you've had a change in health needs. Prescription drug coverage is also worth checking if you take regular medications, since formularies can change annually.
Choosing Between Plan Types
Colorado's marketplace typically offers a range of plans from bronze to platinum, along with HMO and PPO network structures. Lower-premium plans generally come with higher out-of-pocket costs, which can make sense for generally healthy individuals but may not be the best fit if you anticipate significant medical needs in the coming year.
Getting Help with the Decision
Health insurance decisions carry real financial weight, and marketplace options can be difficult to compare without guidance. Working with a licensed agent doesn't cost extra, since commissions are built into the plans regardless of whether you enroll directly or through an agent, but it can mean the difference between a plan that fits your needs and one that doesn't.
As open enrollment approaches, now is a good time to start reviewing your options rather than waiting until the deadline. Contact Colorado Insurance Benefits for help navigating your health insurance choices this enrollment season.