Congresswoman Lizzie Fletcher: Families Can Start Saving Money on Health Care Starting Today
American Rescue Plan Provides New Financial Assistance to Help Reduce Health Care Premiums
Houston, April 1, 2021
Tags: Health Care
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:
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.