Colorado Health Insurance Brokers is a division of Gain Financial Services, Inc.

Colorado Health Insurance Brokers is a true independent health insurance brokerage, where we shop from hundreds of plans from a wide variety of Colorado's top insurance companies to help our business, individual, family and self-employed clients find a plan that meets their objectives.  Here is an overview of the plan choices for individuals, the self-employed and small businesses.

Individual plans are very popular with people and families that have to buy their own health insurance, as well as healthier self employed and small business people and their families. Because individual plans are medically underwritten, individual plans often have substantially lower premiums than small group plans.   Once you are covered, virtually all individual plans in Colorado are non-cancelable and guaranteed renewable and can cover you until you are eligible for Medicare, provided that you continue to pay your premiums and live in the service area. Because these lower cost plans are medically underwritten, it’s important to get this coverage in place while you’re relatively healthy.  Anthem's new SmartSense plan is now available. 

Most individual plans provide on the job health insurance coverage for the self-employed. However, you need to verify that you meet the requirements for on the job coverage. Eligibility requirements can vary, depending upon if you are a sole proprietor, or if your business is a LLC, Sub-S Corporation or other business type.  Health insurance premiums for the self-employed typically are 100% tax deductible, but you’ll need to verify eligibility for this deduction with your tax professional.

Often a point of confusion,  self employed business owners may qualify for a special “Group of One” designation in individual plans. There is typically no difference in premium cost between a Group of One individual plan and standard individual health insurance plan, and you still must medically qualify. The principal advantage for self identifying as a Group of One in an individual plan is that the business can often pay the insurance premium. 

For qualified small business owners with serious pre-existing conditions there is a different group health insurance coverage option known as a “Group of One”. These guaranteed issue plans are typically fairly expensive since most people enroll in these plans because their health conditions will not allow them to qualify for less expensive individual policies. 

Here in Colorado, we are fortunate to have a "safety net" program.  Individuals with serious pre-existing conditions may also be eligible for guaranteed issue coverage from CoverColorado.  Their premiums are typically about 35% more expensive than regular individual plans. CoverColorado does not provide coverage for on the job injuries or illnesses and premiums must be paid with personal funds.

Small Businesses with 2 -50 employees the employer can set up a small group health insurance plan. In addition to being a valuable benefit to attract and retain quality employees, small group health plans have no medical underwriting. That makes them particularly attractive to groups that include people with serious health problems that would make them unable to qualify for less expensive individual coverage. 

Group health insurance is the only coverage option if the employer wants to pay for any portion of employees’ health insurance premiums. Employers are typically required to pay a flat rate of at least $125 per employee or at least 50% of their employees’ premiums.  There are also requirements for a certain level of employee participation in the plan, although employees covered by spouses plans or their own plan are generally not counted against the group when calculating the participation ratio.  Groups of more than 50 employees have a unique set of rules and are considered part of the large group market.

Waiting Periods for Pre-existing Conditions are often a concern.  If you have not had health insurance coverage or have had a break in health insurance coverage for more than two months you may be subject to a pre-existing conditions waiting period clause. These typically range from 6-12 months and cover conditions you were treated for in the 12 months directly preceding your new policy’s coverage. However, individual and small group insurers in Colorado must give you credit for prior continuous coverage. Coverage counts as continuous if it is not interrupted by a break of 60 to 90 or more consecutive days.  

However, prior coverage does not guarantee approval for an individual health insurance plan. Regardless of prior coverage for medically underwritten individual plans you can be approved, approved with an exclusion, approved at a higher than standard rating or declined. Again. because individual plans are medically underwritten, it’s important to get this coverage in place while you’re relatively healthy.  As true brokers, we will help you to determine if the individual health insurance market is a good fit for you, as well as help you find the health insurance carrier and plan that you are comfortable with. 

Best Price Guarantee:  Health insurance premiums are filed with and regulated by the Colorado Division of Insurance.  For individuals or families or business groups of 49 or fewer employees, if you get your health insurance plan through Colorado Health Insurance Brokers, through another agent/broker or directly from the health insurance company, you'll pay the same monthly premium for the same plan.  Enjoy the convenience and personal service of getting a health insurance plan through Colorado Health Insurance Brokers and rest assured that you're getting the best available price.

For more information contact Colorado Health Insurance Brokers to get started today!