Individual Market News
Published May 11, 2021
The American Rescue Plan Act of 2021 (ARP), signed into law in March, expands eligibility for financial assistance and increases the financial assistance amounts for individuals who purchase health plans through HealthCare.gov for plan years 2021 and 2022.
Here are key points about ARP you need to know:
- HealthCare.gov opened a special enrollment period through August 15, 2021, to align with ARP.
- Your on-exchange clients may qualify for additional tax credits or be newly eligible to receive tax credits.
- Your on-exchange clients must take action to get these new tax credits. They should've received notifications from Healthcare.gov instructing them to update their application.
- If your clients don't update their applications, they won't get the additional tax credits. We recommend you encourage them to check their notifications and follow the instructions.
- New tax credits will most likely be reflected retroactively on invoices for the month following the start date of the new tax credit amount.
- Premera Blue Cross Blue Shield of Alaska has communicated information about ARP to our members in an email (sent in April) and on the secure member site.
For more information, visit the U.S. Department of Health and Human Services (HHS) ARP Fact Sheet or read its press release.