Let’s Get Down to Basics.
Answers to many questions about Peak Health Alliance, health insurance, and more.
Individuals & Families
Businesses / ICHRA
About Peak Health
Quick Facts for Individuals and Families
Do all individuals and families with a Bright HealthCare Plan need to find a new health insurance carrier for 2023?
Bright HealthCare’s decision to leave the Colorado market means current Peak Health Alliance members need to identify a new health insurance company in 2023. The only exception is employees of Summit and Grand Counties, whose health insurance will continue without interruption.
Are there resources available to help me search for new health insurance?
Yes, please see our “Resources” page for information about finding a broker or health insurance navigator to assist you. You will also find information to help you with information about tax credits and other potential subsidies to help you keep your costs as low as possible. We are also here to help during this transition. Call us at 970-455-0381 or use this form to send us an online request for assistance.
Whom Do I Contact About My Plan Once I'm Enrolled?
Bright HealthCare is your contact point for insurance customer service through the end of their service period of December 31, 2022.
NOTE: If you get your insurance through your employer, please ask your HR department or benefits manager to help you. Premiums should continue to be paid through the end of the year.
Quick Facts for Businesses/ICHRA
What is an ICHRA Plan?
ICHRA (pronounced “ICH-rah”) stands for Individual Coverage Healthcare Reimbursement Arrangement. They’re available to nearly any business of any size.
You can read up about ICHRA plans here.
ICHRA plans allow a business to provide health insurance to their employees through a tax-free reimbursement in an amount the employer chooses. We recommend you click the link above to learn more or talk to your broker.
When Can Businesses Enroll?
You can set up an ICHRA any time of year. Once you do, your employees will have a 60-day Special Enrollment Period in which to sign up. However, keep in mind you will have to renew at the beginning of the calendar year regardless of when you set up the ICHRA.
Can I Work with My Existing Broker?
You can administer your ICHRA on your own using an online platform, or you may choose to have your broker do this for you. Need a broker? We can refer you to an expert. Click here.
How Much Does an ICHRA Cost?
ICHRA costs depend on your reimbursement plans for your employees and how you set it up (e.g., if your business has 10 or more employees, you may create classes to reimburse different amounts based on the ‘type’ of employee, like full or part time, etc.). You control the amount you reimburse your employees, and there is no maximum contribution.
Can Employees Still Get a Tax Credit with an ICHRA?
By offering your employees an ICHRA, you are offering a full health benefit and they will not be eligible to redeem a tax credit on the marketplace.
The exception: If your employee’s net premium, after your ICHRA contribution, is considered “unaffordable”. If the cost of their premium, after reimbursement, is 9.5% of income or greater, it’s considered “unaffordable”, allowing a tax credit. This will be calculated when you set up your ICHRA. Any employees in question will receive notice within 90 days.
Can I offer additional benefits to my employees?
You can contribute just toward monthly premiums, or you can contribute toward out of pocket expenses like deductibles, etc.
The amount you contribute on additional benefits is still up to you. Be sure to inquire about setting this up when you set up your ICHRA so your staff can take advantage.
You may offer traditional dental and vision plans in addition to ICHRA.
Whom Do I Pay Every Month?
You have options as an employer.
- You can pay your employees directly the defined contribution you have allocated.
- Or, you can have your reimbursement come through a payroll addition.
The last option is to pay the carrier(s) directly the full price of the premium, and do a payroll deduction for your employees. This option is only available on certain ICHRA platforms and is meant to mimic a traditional group plan.
If you’re an employee, ask your employer about how you’re expected to pay for plans.
Do You Offer Dental or Vision Insurance?
For 2022, individuals can choose dental and vision.
Employers may offer dental and vision plans to their staff in addition to an ICHRA.
Do You Offer Discounted Pharmaceuticals?
Your insurance carrier will offer prescription drug plans; the benefits and associated costs for which will vary by plan and carrier.
Peak Health Alliance is exploring pharmaceutical benefits for future plans. Stay tuned!
Who Will Be Our Insurance Carrier?
Peak Health Alliance plans are carried by Bright HealthCare for the 2022 calendar year.
For ICHRA plans, each employee may select any ACA complaint plan offered by any licensed insurance carrier in the marketplace.
If you’re using a broker, ask them about helping your employees with signup and selection and be sure to ask them about any fees they may charge to do so.
About Peak Health Alliance
What is Peak Health?
Peak Health Alliance is a non-profit health insurance purchasing alliance licensed and regulated by the State of Colorado. Peak Health Alliance negotiates lower healthcare rates by leveraging the purchasing power of the community. We offer access to health insurance plans through carriers we select based on their ability to offer the most competitive rates and comprehensive plans.
Peak was first initiated as a special project of the Summit Foundation. Today it is operated independently and based out Summit County, Colorado. In Southwest Colorado, Peak partners with the Local First Foundation to engage with communities and meet local needs.
Peak Health Alliance’s ability to operate and offer plans is granted under Colorado law and enforced by the Division of Insurance. However, we are not a state agency.
Is Peak Health Alliance an Insurance Company?
No. Peak Health Alliance is a community advocate, not a health insurance company. By law, Peak is not allowed to bear risk. We negotiate with providers and hospitals, then partner with insurance carriers who underwrite the plans.
Is Peak the Same as Southwest Health Alliance?
In the summer of 2021, the Southwest Health Alliance transitioned to operate as Peak Health Alliance. We retired the name, and now operate under one! However, we still maintain local leadership and a steering committee in the Four Corners through a partnership with the Local First Foundation.
Is Peak Health Alliance the Same as Obamacare?
No. However, our plans are compliant with Obamacare— otherwise known as the Affordable Care Act or ACA for short.
Are Your Plans ACA-Compliant?
How is Peak Health Funded?
In the beginning, Peak Health Alliance was underwritten through the generosity of the Summit Foundation and local government organizations. Our ongoing operations are primarily funded by membership fees, paid through the monthly premiums of Peak Health Alliance plans. Peak Health Alliance also has received financial support from philanthropic organizations such as The Arnold Foundation, Rocky Mountain Health Foundation, and The Colorado Health Foundation.
Is Peak Affiliated with a Specific Provider, Hospital, or Insurance Company?
No. We are an independent Summit County-based non-profit and 501(c)3 organization, governed by a Board of Directors who represent our members – businesses, government entities, individuals, and more. We negotiate and partner with various local, statewide, and specialty providers so we can bring down rates for everyone.
How Can I Stay Updated ?
Please visit our home page and subscribe to remain informed about news related to Peak Health Alliance and any updates regarding enrollment, industry trends and related information.
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