FRIDAY, APRIL 2, 2021
The American Rescue Plan, signed by President Biden this month, incorporates big savings for Americans who buy health coverage through the Marketplace. The changes expand access to premium tax credits and increase the amount of premium tax credits that people can receive.
The plan:
- Removes upper income limits for premium tax credit eligibility
- Sets maximum premium contribution to 8.5 percent of household income for eligible enrollees
- Gives additional financial assistance to people who are eligible for or receiving at least one week of unemployment benefits in 2021
- Forgives of excess premium tax credits given in 2020
- Provides COBRA premium subsidies through Sept. 30
Posted 2:51 PM
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