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By …. AFFORDABLE CARE ACT IN ACTION. [SELF INTRODUCTION SLIDE]

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Presentation on theme: "By …. AFFORDABLE CARE ACT IN ACTION. [SELF INTRODUCTION SLIDE]"— Presentation transcript:

1 By …. AFFORDABLE CARE ACT IN ACTION

2 [SELF INTRODUCTION SLIDE]

3 Introduction Basics on the Affordable Care Act (ACA) Connect for Health Colorado Medicaid Expansion Expanding Coverage Conclusion CONTENT

4 THREE PILLARS OF HEALTH CARE REFORM Contain Costs Expand Coverage Ensure Quality

5 IMPROVING QUALITY ESSENTIAL HEALTH BENEFITS Source: Hoopayz.com

6 No exclusion for pre- existing conditions No lifetime or annual limits Guaranteed issue and renewability Rating on only 4 factors Age (3:1) Location Family size Tobacco usage (1.15:1) CONSUMER PROTECTIONS IN THE ACA

7 80/20 Rule COST CONTAINMENT Rate Review

8 Individual Mandate Colorado will expand Medicaid to cover approximately 160,000 new Coloradans Employer Responsibility 50+ employees: must offer coverage or pay a penalty in 2015 Under 50 employees: no requirement but may be eligible for financial assistance Dependents up to age 26 can stay on parents’ plans EXPANDING COVERAGE

9 CONNECT FOR HEALTH COLORADO www.connectforhealthco.com 1-855-PLANS-4-YOU (1-855-752-6749)

10 HOW MUCH WILL INSURANCE COST? Source: Avalere Health LLC

11 FINANCIAL ASSISTANCE FOR INDIVIDUALS http://www.connectforhealthco.com/let-us-help/individuals-families/calculators-individuals-families/http://www.connectforhealthco.com/let-us-help/individuals-families/calculators-individuals-families/, Income (Individual) Premium Contribution FPLAnnual IncomeAs % of IncomeMonthly Payment 150-200%$17,235-$22,9804-6.3%$19.15-$57.45 200-250%$22,980-$28,7256.3-8.05%$57.45-$120.65 250-300%$28,725-$34,4708.05-9.5%$120.65-$272.89 300-400%$34,470-$45,9609.5%$272.89-$363.85 Source: NASTAD, Premium Tax Credits and Cost Sharing Subsidies (Feb, 2013)

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13 COLORADO MEDICAID Source: Colorado Health Institute

14 Support for individuals and/or small businesses in- person or telephone using Connect for Health Colorado Assistance Guides will offer: Information on public and private health insurance options Access to assistance, training, and a certification program from a central support system YOU WON’T HAVE TO GO IT ALONE!

15 WHERE ARE YOUR HEALTH CARE COVERAGE GUIDES LOCATED?

16 EXPANDING COVERAGE: HOW MANY UNINSURED ADULTS AND CHILDREN STAND TO BECOME INSURED AFTER HEALTH REFORM IN COLORADO? Source: Colorado Health Institute

17 First Enrollment Period for the Connect for Health Colorado Marketplace: October 1, 2013 New Individual Coverage begins: January 1, 2014 New Employer Coverage begins: January 1, 2015 CONCLUSION


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