Competitive Insurance Rates: Let the Exchange Begin!

When a Windsor resident, who is self-employed, told a group of friends at a recent social gathering that he was going for the silver in 2014, he was not talking about the XXII Winter Games scheduled in Sochi, Russia next February.

The topic of their conversation was the competitive line-up of rates among the health insurance plans offered in Connecticut’s new health insurance exchange, called Access Health CT.

The exchange, created under the Affordable Care Act (Obamacare), will open for enrollment Oct. 1, and is selling plans scheduled to go into effect January 1, 2014.

“I think I may actually be able to swing the silver plan for myself,” said the businessman, referring to one of the three types of plans –Bronze, Silver and Gold, with Bronze having the lowest premiums.  Exchange customers will be able to choose from the different types of plans offered by three different insurance companies, including a new Consumer Operated and Oriented Plan (CO-OP) called Healthy CT

Many people who purchase insurance through the exchange will qualify for discounts, subsidized by the federal government,  lowering the rates. While getting a handle on the new changes and different rates may feel like an Olympic undertaking, there are many good resources that can help residents begin to comparison shop and  make informed decisions.

An article in the CT Mirror last week on the exchange rates,  includes user-friendly charts that can help residents compare the prices of the different plans.  Compare rates for Obamacare health plans here.  


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