Open Enrollment in Underway for 2024 Health Insurance

Yes, it’s that time of year…

Colorado’s Marketplace ( has updated its rates and plan offers for 2024. Please grab a convenient time for yourself via my calendar link below and we’ll review the changes for 2024:

There are a few things to be aware of as you plan for your family’s health insurance during the next 12 months.

1. Some good news is that for those that are currently enrolled into a subsidized plan, the increase in subsidy allowance for 2024 should equal the rate increase that each carrier has put forward. Depending on the plan that you might choose (Bronze/Silver/Gold), you may find that your subsidy (tax credit) covers more of your retail premium cost.

2. Off-Marketplace plans are a viable opportunity for those that do not qualify for a federal subsidy based on their income; typically younger individuals or couples with more than $50K in income (individual) or as much as $100K for a young couple.
PPO plans with good-health discounts and other inclusions that support an active lifestyle like supplemental accident riders may round out a more beneficial option depending on your particular circumstances.

3. Early retirees and/or older self-employed individuals or couples will continue to benefit from the higher income threshold established within the Inflation Reduction Act of 2022. For example, a couple in their 60’s can still qualify for almost $650 per month in tax credits to offset the cost of a Marketplace plan even if their MAGI (modified adjusted gross income) for tax year 2024 is projected to be $150,000. In the Colorado mountains, the subsidy is about double that at – $1,200+ per month – because mountain health insurance rates are that much more expensive.