The American Rescue Plan was recently signed into law, significantly expanding ACA subsidy eligibility for many individuals. This provision of the COVID relief bill, coupled with the federal Special Enrollment Period, aims to increase health insurance enrollment and affordability for many Americans by providing:
BEGINNING APRIL 1ST
- Larger subsidies for individuals at 100 – 400% of the
Federal Poverty Level - Expanded APTC eligibility to those above 400% of the
Federal Poverty Level - Increased eligibility for $0 bronze and silver plans
- More affordable coverage (or $0 plan) without a qualifying life event
- Contact me if you would like a personal premium subsidy calculation under this new act. You may be surprised that you may now qualify for a premium subsidy. Or you may even get a larger subsidy than you currently have.
HOW IT AFFECTS COBRA
If you lost your job and are currently on COBRA, did not elect COBRA or let your COBRA coverage lapse, you should contact your COBRA administrator to learn how you may have your COBRA paid for under these new rules for April – September, 2021. Should you not qualify for the benefit, contact me for assistance.
Leave a Reply