Aug 16, 2013 9:41 AM by Garrett Boyd
Friday begins a new chapter in health care in Colorado. This morning, the state released information on the 541 plans it will offer from 18 carriers as part of the Affordable Health Care Act.
The law was signed by President Obama in hopes of making preventive care more accessible and affordable for many Americans. While some provisions of the law have already taken effect, many more provisions will be implemented in the coming years.
The Colorado Division of Insurance began reviewing these health plans in May, to ensure the plans meet state and federal requirements for benefits, coverage and premiums.
Monthly premiums for the approved 2014 plans vary widely.
The monthly costs do not reflect additional out-of-pocket expenses or deductibles, and may be offset by federal tax credits or other financial assistance for some individuals and businesses if they purchase coverage through Connect for Health Colorado, the state's health insurance exchange.
It's estimated that roughly 800,000 people in Colorado do not have health insurance.
Consumers can begin shopping for new plans on October 1. The open enrollment period lasts until March 31.