- Open enrollment for Vermont Health Connect, offering federally subsidized health insurance plans, runs from Nov. 1 to Jan. 15, 2024.
- Federal subsidies have increased this year, making gold plans (with more benefits) less expensive than silver plans for many Vermonters.
- Those who enroll by Dec. 15 will have coverage for the full year, while those enrolling between Dec. 16 and Jan. 15 will have coverage starting Feb. 1, 2025.
Open enrollment through Vermont Health Connect began on Nov. 1 and continues through Jan. 15, offering federally subsidized health insurance plans at significant savings for residents compared to signing up directly with insurance companies.
“Now is the time for Vermonters to sign up for affordable, high-quality health coverage for 2025,” DaShawn Groves, commissioner of the Department of Vermont Health Access, said in a statement. “This year, customers enrolled through Vermont Health Connect can take advantage of better coverage plans at lower out-of-pocket premium costs.”
The Department of Vermont Health Access operates Vermont’s health insurance marketplace.
Federal subsidies for health insurance plans purchased through the marketplace have been increased this year, according to DVHA, which encourages everyone to check out the options on the Vermont Health Connect Plan Comparison Tool.
Is health insurance through Vermont Health Connect cheaper?
Because of those federal subsidies available through Vermont Health Connect, many Vermonters will pay less for gold plans in 2025 than they would for silver plans, which provide fewer benefits.
For example, eligible individuals who earn $40,000 a year could get the lowest-cost gold plan for less than $1 a month − a savings of $1,172 each month compared to signing up directly with insurance companies, without federal subsidies.
A family of four with a household income of $100,000 a year could get a gold plan for $155.37 a month, according to DVHA − a monthly savings of $3,044 compared to signing up directly with the insurance company, or more than $35,000 per year.
“The rising cost of healthcare is one of the biggest concerns for Vermonters,” Jenny Samuelson, secretary of the Agency of Human Services, said in a statement. “This is great news − reduced-cost gold plans will make a big difference for our community members and residents. It’s important that Vermonters know about the marketplace, how easy it is to get a plan, and how much less they’ll pay than if they buy the same plan directly from an insurance company.”
When do I need to decide on health insurance
More than 90% of people who are enrolled for health insurance through Vermont Health Connect qualify for financial help, according to DVHA, which says thousands of Vermonters are already paying less than $25 a month for coverage through the marketplace.
If you sign up for health insurance through the marketplace by Dec. 15, you’ll have coverage throughout 2025. Those who sign up between Dec. 16 and Jan. 15, the final day of open enrollment, will have coverage beginning on Feb. 1, 2025.
It’s best to keep that in mind as you’re considering your options. If you want to learn more about open enrollment, DVHA is putting on a couple of town halls, on Nov. 13 at noon, and on Dec. 3 at 5:30 p.m. For more information, visit www.VermontHealthConnect.gov or call the customer support center at 1-855-899-9600.
Contact Dan D’Ambrosio at 660-1841 or ddambrosio@freepressmedia.com. Follow him on Twitter @DanDambrosioVT.
