In Colorado, open enrollment begins November 1 and ends January 15. If you enroll in a plan by December 15, your coverage will take effect on January 1.
Colorado residents also have the option to select a plan between December 16 and January 15 — with coverage effective February 1. After January 15, Colorado residents will only be able to make changes to their coverage (or enroll for the first time) if they experience a qualifying event during the year.
You can contact Jay if you’d like to set up a time to discuss your coverage options during the open enrollment period for 2024.
Rates and benefits for 2025
For 2025, six insurers plan to offer coverage through Colorado’s exchange, including Select Health, which is new to the state last year. The five current insurers have proposed rate increases that average about 10% for 2024. But the majority of Colorado’s exchange enrollees receive premium subsidies, and subsidies will grow to keep pace with changes in the benchmark (second-lowest-cost silver) plan’s premium in each area.
Colorado’s state-funded cost-sharing subsidies (in addition to ACA cost-sharing reductions) will ensure that anyone eligible for cost-sharing reductions in Colorado will get the most robust level of coverage (94% actuarial value) as long as they select a silver plan through the exchange. This benefit is available to folks earning up to 250% of the poverty level, which amounts to $36,450 for a single adult enrolling in 2024 coverage.
Colorado will continue to operate the OmniSalud platform, which allows undocumented immigrants to enroll in coverage. State-funded subsidies are available — but only for a limited number of enrollees, so it’s important to sign up as soon as possible after open enrollment begins in November. Also note that OmniSalud coverage does not automatically renew. So people who enrolled for 2024 will need to re-enroll for 2024, during the open enrollment period that begins in November 2024.
Open enrollment in Colorado
