More Kansans qualify for financial assistance during special open enrollment period
More Kansans now qualify for financial assistance to help lower the cost of their health insurance premiums purchased through the Marketplace (HealthCare.gov) and Blue Cross and Blue Shield of Kansas is here to help Kansans understand recent changes and determine what steps they should take next.
Last month, President Biden signed the American Rescue Plan Act (ARPA) into law and it went into effect on April 1. The ARPA expands the number of people eligible for financial assistance, often called subsidies or premium tax credits, on the Marketplace. This will directly affect approximately 30,000 uninsured Kansans who did not previously qualify for financial assistance and even more Kansans who may now qualify for additional financial assistance. President Biden also extended the special open enrollment period to Aug. 15, giving Kansans even more time to select a plan without the need for a qualifying event such as the loss of a job, marriage, divorce or birth of a child.
At bcbsks.com/cares, four easy steps are outlined to help Kansans navigate the changes brought on by the ARPA.
See if they qualify for financial assistance and calculate their estimated savings.
Browse plan levels to determine what fits their needs and budget.
Enroll directly through bcbsks.com/cares if they do not qualify for financial assistance, or directions on ho w to enroll in a plan with financial assistance through healthcare.gov
Access customer service representatives to answer their plan questions.
“The American Rescue Plan Act has brought about many positive changes to assist those directly impacted by the COVID-19 pandemic, but those changes can be difficult to understand,” said Mike Gerrish, vice president, chief marketing and experience officer. “We wanted to help simplify the information and make it easily accessible at bcbsks.com/cares for all Kansans to access and understand.”
Individuals and families may see additional tax credits
Individuals and families may be eligible for a temporary increase in premium tax credits for this year, with no one paying more than 8.5% of their household income towards the cost of the benchmark plan (the second-lowest-cost silver plan on the Marketplace in each rating area), or a less expensive plan. Meaning, many consumers will be eligible for higher tax credit amounts to help cover their Marketplace health plan premiums. This also applies to those with household incomes above 400% federal poverty level (FPL). Previously, only those under 400% FPL (a family of four that makes $106,000 per year) were offered premium tax credits.
Financial assistance for those receiving unemployment compensation
The ARPA also makes special considerations for people approved to receive or are receiving unemployment compensation at any point in 2021. If a person is receiving unemployment compensation and qualifies to purchase insurance on the Marketplace, that person and any eligible dependents may be able to receive a silver plan with a $0 premium.
