Subsidies slash Colorado QHP costs
By Allison Bell
Colorado private exchange enrollees pay an average of $106 per month for coverage out of their own pockets.
The Patient Protection and Affordable Care Act tax credit program is cutting the net cost of premiums for the qualified health plan enrollees by 72 percent, from an average monthly gross premium of $369.
Managers of the state-based Connect for Health Colorado exchange have published those figures in a marketplace dashboard report included in a board meeting packet.
Colorado’s exchange says state residents selected QHPs for a total of 180,022 state residents from Jan. 1 through Feb. 1.
The exchange took in an average of about 16,000 QHP selection lives per month from Oct. 1 through Dec. 31.
Less than a quarter of the individuals and families who’ve picked QHPs have signed up for plans that offer dental coverage, and less than 1 percent buy stand-alone dental coverage.
In the small-group market, only about 5 percent of the 1,296 workers who signed up for Small Business Health Options Program QHPs are getting plans that include dental coverage.
The exchange has certified 1,473 brokers and 446 health coverage guides. The exchange eventually would like to report the number of accounts managed by brokers and guides but doesn’t yet have those figures.
Managers say they’ve received 89 consumer appeals and completed work on 31 of the appeals.
Originally published on BenefitsPro.com