See How Much You Can Save Using This Calculator

Starting today, people who enroll for health care through HealthCare.gov will be able to take advantage of increased savings and lower costs provided by the American Rescue Plan.  Under the American Rescue Plan, many people who buy their own health insurance directly through the HealthCare.gov marketplace will become eligible to receive increased tax credits to reduce their premiums.  The Special Enrollment Period to sign up for health coverage has been extended until August 15, 2021.

“In the community with the highest uninsured rate in the state—and in the state with the highest uninsured rate in the country—making health care more affordable and accessible is vital,” said Congresswoman Lizzie Fletcher.  “The American Rescue Plan delivers tangible support and savings to help make health care more affordable to families, and I urge people across our community to take advantage of these new provisions that are now available.” 

In Texas specifically, more than 500,000 currently uninsured Texans are newly eligiblefor subsidies to make their health coverage more affordable in the marketplace.  Across the country, approximately 29 million people are uninsured.  According to the new estimates from the Department of Health and Human Services (HHS), at least 6.8 million of these individuals are now eligible to purchase an marketplace plan with no monthly premium, and another 1.3 million could sign up for a health plan that costs less than $50 a month.  Additionally, approximately 3.3 million Americans who previously earned too much to qualify for help on the marketplace can now qualify for subsidies on the marketplace. 

Individuals can use the Health Insurance Marketplace Calculator to receive an estimate of how much their health insurance premiums and subsidies would be through the marketplace.  The calculator has been updated to reflect new savings now available under the American Rescue Plan. 

Below is guidance from HHS on how to take advantage of the financial assistance provided by the American Rescue Plan: 

• Current enrollees, including those who recently enrolled through the 2021 Special Enrollment Period, can update their applications and enrollments in order to get new eligibility results starting April 1.  You will need to reselect your current plan in order for the changes to take effect to reduce your premiums for the remainder of the year.
• Consumers who enrolled in marketplace plans prior to April 1 have the choice of waiting until they file their taxes next year in 2022 to receive the additional premium tax credit amount when they file and reconcile their 2021 taxes. 
• But all enrollees should update their application and review their plan options during the 2021 Special Enrollment Period through May 15 because you may be able to choose a plan with lower out of pocket costs for the same price or less than what you are currently paying.
• When deciding whether to choose a new plan, you should consider how much you’ve already paid toward your deductible.  When you change plans, the amount you’ve paid already towards meeting your prior plan’s deductible may be reset to zero.  If you have made significant payments toward your deductible, check with your insurance company to see how it might impact you and what options are available to keep credit toward what you have already paid.

Additionally, beginning in early July on HealthCare.gov, consumers who have received or have been determined eligible to receive unemployment compensation in 2021 may be able to get another increase in savings when enrolling in new marketplace coverage or updating their existing marketplace application and enrollment.  The savings to be made available starting in early July for eligible consumers who received or were found eligible to receive unemployment compensation in 2021 are in addition to the increased savings available to consumers starting April 1.