Most of you already know President Biden signed an executive order shortly after being sworn in, creating a three-month special enrollment period in the individual market so those who didn’t have coverage had the opportunity to sign up. The Special Enrollment Period (SEP) began February 15 and was originally scheduled to end May 15th. However, Biden announced that the CMS ( Centers for Medicare and Medicaid Services), will be extending the SEP by three more months, now ending on August 15th. The extension gives consumers more time to purchase health insurance and take advantage of the additional premium tax credits included in the American Rescue Plan.
The American Rescue Plan offers additional savings for consumers through HealthCare.gov beginning April 1st. These savings will decrease premiums for many — on average, by $50/person a month and $85/policy per month. On average, one out of every four enrollees on HealthCare.gov will be able to upgrade to a higher plan category — which offers better out of pocket costs at the same or even lower monthly cost compared to what they are currently paying.
So how do you know if you have additional subsidies waiting for you? That’s easy — give us a call. We pride ourselves in superior customer service! Within five to ten minutes, our agents can determine your additional savings and get your monthly premiums lowered.
Those who purchase health coverage during the SEP will have their coverage begin on the first of the following month. And if you already have a plan through the marketplace but would like to change it, you will e able to change to any plan available to you in your area.
Don’t miss this opportunity to save on your monthly premium — it’s important to take advantage of this special enrollment period and the increased premium tax credits. See why we’re the preferred health insurance agency in Coral Springs and Parkland! Give us a call today — our agents are ready and waiting to help you!