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What to Know About the American Rescue Plan Act

May 07, 2021
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What to Know About the American Rescue Plan Act

You may be eligible for financial help with health insurance costs.

There is good news about your health insurance coverage.  The American Rescue Plan Act recently increased the Marketplace tax credit dollars at every income level. With this new legislation, you could qualify for premium tax credits that you can use to lower your monthly insurance payment. This legislation, combined with the Open Enrollment extension through August 15, 2021, means more time for individuals and families to enroll and get financial help with Marketplace coverage.

How can you determine your eligibility?

We encourage you to visit healthoptions.org to obtain a summary of your Marketplace eligibility. Click on “Find a plan;” select ”Shop as an individual or family,” and answer a few basic questions to receive an estimate of your eligibility.

I am eligible for tax credits. What should I do?

If you are eligible for an additional or new tax credit, you must contact the Marketplace by calling (800) 318-2596 or visiting healthcare.gov.

Can I change my  Health Options’ plan?

Yes, now through August 15, you can switch to another Health Options’ plan based on your health insurance needs, your budget, and this additional financial help.

Will my 2021 expenditures from my current Health Options’ plan transfer to a new Health Options’ plan?

Yes, any 2021 expenditures towards your deductible or out-of-pocket maximum will carry over to any new Health Options’ plan you choose.*

When will my monthly insurance payments be updated?

Changes to your invoice will become effective the first day of the month after you contact the Marketplace. 

Although healthcare.gov determines eligibility for a Marketplace plan and premium tax credits, we are here to help answer any questions you may have about our plans. Please contact us at (855) 624-6463, Monday through Friday, 8 a.m. to 6 p.m.

*Please note: Your 2021 payments applied to deductible and out-of-pocket maximum will carry over to your new Health Options’ plan as long as there is no interruption in coverage and you are not moving from a Health Options’ group plan to an individual plan.

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