American Rescue Plan - Marketplace Health Coverage

The American Rescue Plan reduces health care costs, expands access to coverage, and ensures nearly everyone who buys their own individual or family health insurance through a Marketplace can receive a tax credit to reduce their premiums. (This is a summary of the Fact Sheet you can download below.)

Highlights

1. Reduces the cost of health care coverage for 9 million consumers currently receiving financial assistance by ensuring consumers eligible for premium tax credits have at least a couple of plans to choose from that won’t cost more than 8.5% of their household income on their Marketplace plan premium per year.

Examples
~ Uninsured couples earning over $70,000 could save more than $1,000 per month on their monthly premium.
~ A family of four making $90,000 will see their premiums decrease by $200 per month.
~ An individual making $19,000 will be able to find health insurance coverage with no monthly premium, saving roughly $66 per month on average.

1. Expands the number of people eligible to save money on their health care coverage.
   About 14.9 million Americans who currently lack health insurance will be able to save money on their premiums to find the coverage they need at a price they can afford.

2. Addresses racial health inequities by expanding coverage and reducing costs.
   The COVID-19 pandemic has exacerbated stark health disparities among certain racial and ethnic minority populations in several areas, including infections, hospitalizations, death rates, and vaccination rates. Many of these same populations have experienced job loss or loss of health insurance coverage at disproportionally higher rates.

Examples
~ 48,000 uninsured American Indians and Alaska Natives will be newly eligible to save money on health care coverage and 21,000 will be eligible for zero-dollar benchmark Marketplace plans.
~ 730,000 uninsured Latinos will be newly eligible to save money on health care coverage and 580,000 will be eligible for zero-dollar benchmark Marketplace plans.
~ 360,000 uninsured Black and African Americans will be newly eligible to save money on health care coverage and 328,000 will be eligible for zero-dollar benchmark Marketplace plans.
~ 197,000 uninsured Asian, Native-Hawaiian and Pacific Islanders will be newly eligible to save money on health care coverage, and 50,000 will be eligible for zero-dollar benchmark Marketplace plans.

For Floridians

318,500 uninsured Floridians will be newly eligible for tax credits. and 270,600 uninsured Floridians will now be eligible for $0 dollar benchmark Marketplace coverage (<150% Federal Poverty Level).
Visit https://www.FloridaHealthInsurance.online

If you receive your health care coverage from the Marketplace, you need to contact your insurance broker or agent ASAP!
Otherwise, you're leaving money on the table!

Download Fact Sheet
https://www.hhs.gov/sites/default/files/fact-sheet-hhs-american-rescue-plan-health-insurance-coverage.pdf