03/18/2021
Congress passed The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package, and President Biden signed it into law on Thursday, March 11th.
There are some provisions that will greatly affect the number of people who qualify for government subsidies and the amounts of those subsidies are increasing significantly. These changes are retroactive back to January 1, 2021.
For those of you that I assisted with your enrollments, it will be necessary to re-do your marketplace applications to take advantage of the greater subsidies the remainder of this year. Otherwise, you will receive the increase all at once when you file your 2021 taxes in 2022.
If you didn't qualify for subsidies during open enrollment or if the subsidies weren't enough to make a plan affordable, please let me know and we can re-quote and apply after April 1, 2021 and see what the new subsidies are. The special enrollment period ends on May 15, 2021.
As always, feel free to message me if you have questions.
