Download - Affordable Care Act in Action
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By ….AFFORDABLE CARE ACT IN ACTION
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[SELF INTRODUCTION SLIDE]
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• Introduction• Basics on the Affordable Care Act (ACA)• Connect for Health Colorado•Medicaid Expansion• Expanding Coverage• Conclusion
CONTENT
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THREE PILLARS OF HEALTH CARE REFORM
Contain Costs
Expand Coverage
Ensure Quality
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IMPROVING QUALITYESSENTIAL HEALTH BENEFITS
Source: Hoopayz.com
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• 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
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80/20 Rule
COST CONTAINMENT
Rate Review
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• 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
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CONNECT FOR HEALTH COLORADO
www.connectforhealthco.com 1-855-PLANS-4-YOU (1-855-752-6749)
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HOW MUCH WILL INSURANCE COST?
Source: Avalere Health LLC
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FINANCIAL ASSISTANCE FOR INDIVIDUALS
http://www.connectforhealthco.com/let-us-help/individuals-families/calculators-individuals-families/,
Income (Individual) Premium Contribution
FPL Annual Income As % of Income Monthly Payment
150-200% $17,235-$22,980 4-6.3% $19.15-$57.45
200-250% $22,980-$28,725 6.3-8.05% $57.45-$120.65
250-300% $28,725-$34,470 8.05-9.5% $120.65-$272.89
300-400% $34,470-$45,960 9.5% $272.89-$363.85
Source: NASTAD, Premium Tax Credits and Cost Sharing Subsidies (Feb, 2013)
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Medicaid Expansion
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COLORADO MEDICAID
Source: Colorado Health Institute
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Support for individuals and/or small businesses in-person or telephone using Connect for Health ColoradoAssistance 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!
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WHERE ARE YOUR HEALTH CARE COVERAGE GUIDES LOCATED?
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EXPANDING COVERAGE: HOW MANY UNINSURED ADULTS AND CHILDREN STAND TO BECOME
INSURED AFTER HEALTH REFORM IN COLORADO?
Source: Colorado Health Institute
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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