American Rescue Plan Gives Healthcare Coverage a Boost
Signed into law earlier this year, the American Rescue Plan (ARP) helps people enrolled in marketplace health plans offered through the Affordable Care Act (ACA), as well as those who may now need to enroll, by increasing their affordability and expanding eligibility.
Other provisions also support folks who are facing financial difficulties and healthcare insurance decisions due to the pandemic.
We’ve highlighted some of the benefits below, but read here for a deeper dive into the details.* Please note that dates are subject to change. Call or email Curtis or Mark if these measures impact you and your family, and you need some guidance.
- Marketplace Special Enrollment Period (SEP) has been reopened through August 15, 2021.
- In HealthCare.gov states, existing marketplace healthcare participants can also change plans through August 15, 2021.
- Enhanced tax credits for ACA premium subsidies for people at every income level.
- Recognizing the widespread uncertainty related to the pandemic, no repayment is required for excess 2020 marketplace premium subsidies. Implementation TBD.
- ARP subsidies will cover 100% of COBRA premiums for up to 6 months while people are eligible between April 1 and September 30, 2021. COBRA subsidy eligibility does not impact marketplace subsidy eligibility. Newly unemployed individuals should carefully weigh their options.
*Materials from KFF.org as of March 17, 2021. Information subject to change.