The American Rescue Plan (ARP) has increased tax credits available to consumers, helping to reduce premiums and giving consumers access to affordable health care coverage. Starting April 1st you can apply for the increased tax credits on your Marketplace plans that will lower your monthly premium starting May 1st. In order to receive the new tax credits, you or your agent will need to update your Marketplace application at Healthcare.gov or through your agent who can assist with updating your application. It is recommended that even if you have no change in income or are happy with your current plan that you update the application so you don’t lose out on the increased tax credits that are part of the American Rescue Plan. For consumers who aren’t enrolled through the Markeplace you can possibly qualify for coverage under the expanded income levels or due to collecting unemployment. Please call us today to see if you qualify.
Premium tax credit calculations for the Marketplaces on HealthCare.gov are now adjusted so that most consumers qualify for more substantial advance payments of premium tax credits. Many Americans on the Marketplaces will see their premiums decrease, on average, by $50 per person per month and $85 per policy per month. An average of four out of five consumers currently enrolled in a plan through HealthCare.gov will be able to find a plan for $10 or less per month with the newly expanded financial assistance under the American Rescue Plan. Additionally, after advance payments of the premium tax credits, an average of three out of five uninsured adults eligible for coverage on HealthCare.gov may be able to access a zero-premium plan and nearly three out of four may find a plan for $50 or less per month on HealthCare.gov.
Current enrollees should review their application, make any changes needed to their current information, submit their application and select a plan, or reselect their current plan, to receive the increased advance payments of premium tax credits for 2021 Marketplace coverage. Consumers who take action in April and confirm updated savings on the plan of their choice will start receiving the savings and lower costs starting with their May 1 premiums.
In addition we want to remind our customers that are members with Florida Blue that they will also have up to $500 in wellness rewards benefits.
Consumers who want to enroll in coverage and see if they qualify for more affordable premiums can visit UrHealthBenefits.com to view 2021 plans. Additionally, consumers can call us at 954-256-5356. Get professional help applying and more. Eligible consumers can apply through August 15, 2021, to gain access to the Special Enrollment Period to change or update their plan choices.