Starting this month, tens of millions of Americans will find it substantially more affordable to buy their own health insurance due in part to the generous financial help included within ARPA.
The amount of money that you spend on health insurance is about to get a lot cheaper. People earning up to 150% of the federal poverty level (about $19,000 for an individual and $39,000 for a family of four) can now get plan coverage with zero deductible in addition they will also be able benefit from cost-sharing subsidies which slash their deductibles.” said Karen Pollitz
“The Affordable Care Act has been really successful at getting the uninsured into coverage,” Kaiser Family Foundation senior fellow Karen Pollitaz told The Huffington Post ”We have seen historically high levels over time since it began”.
Those who make more will also benefit from the ARPA’s generous subsidies. This includes people with incomes more than four times the poverty rate, who didn’t previously qualify for financial help in health insurance marketplaces.
This new legislation is a game changer and can be beneficial to those that are making too much money now but need assistance paying their healthcare premiums
These new benefits are now available through HealthCare.gov, which went into effect on April 1st. One way to find out if they will help you is by going to the website and selecting “report a life change” option after clicking “change my household’s income.”
Give us a call if you need help or learn about your health insurance options.