The American Rescue Plan

The American Rescue Plan expanded the existing premium tax credit program and provides additional assistance in 2021 for individuals who are approved or receiving unemployment income.

 

This new benefit will be available by May 6, 2021 at wahealthplanfinder.org. You will not need to do anything to receive these new tax credits. If you are eligible, and your account is current with your income, your premium will be adjusted to reflect your new tax credits starting in June. If you are a new customer, you may join Molina at any time until August 15, through this ARP Special Enrollment Period.

 

Current customers will receive a notification from Washington Healthplanfinder with additional information in April.

The American Rescue Plan increases the amount of premium tax credits you receive, which reduces your premiums. The exact amount your premium will go down depends on where you live, how old you are, and how much money you make.

For example, if you are a 40-year-old resident with an annual income of $30,000 and already pay a reduced premium of $195/month for a silver plan, your monthly premium will go down to $85/month.

For an estimate of the premium tax credits you may be eligible for: KFF Health Insurance Marketplace Calculator

Yes. You can decide during the SEP opportunity if you want to change to a new plan for the rest of the year. With these new subsidies in place, you may be able to enroll in a Molina plan with more coverage for the same or even lower premium than you pay today. When changing coverage between metal tiers (e.g. from Bronze to Silver coverage or Silver to Gold coverage), money you have spent so far this year toward your Deductible and Maximum Out of Pocket expense limits will carry over and be applied to your new plan.

For example, if you have spent $2,000 out of pocket toward your health insurance expenses so far this year and the Bronze plan you are enrolled in has a deductible of $6,000, this means that currently you have $4,000 remaining before you have met your current deductible. If you were to switch to a new Silver plan with a $3,000 deductible, the $2,000 you have already contributed would roll over and be applied against this new deductible limit. This would mean you now have $1,000 left to meet your deductible. The same logic applies to any Maximum Out of Pocket Expense limits that you had before and after your switch to Silver.

Should the amount paid toward your Deductible exceed the Deductible of your new plan, this amount will be credited to your new balance of Maximum Out of Pocket limit.

Yes. If you have been approved for, received, or are receiving unemployment income during any week in 2021, and are eligible for premium tax credits, you will receive the maximum amount of premium tax credits.

To receive the maximum amount of premium tax credits, you must report your receipt of unemployment income in Washington Healthplanfinder.

The expanded tax credit program under the American Rescue Plan is for all of 2021 and all of 2022, unless Congress extends or makes the program permanent.

Additional premium assistance for individuals who are approved for or receive unemployment income during 2021 is only for 2021. You can find more information about reporting your unemployment income here.

The American Rescue Plan extends the maximum amount of premium tax credits for all 2021 to individuals who are approved for or receive unemployment income for any week in 2021.

Yes. You qualify if you received unemployment income during any week in 2021. You do not have to be receiving unemployment income when you apply for health coverage.

For example, if you received unemployment insurance January 1 through January 7, 2021 and apply for health coverage June 1, 2021, you will qualify for the maximum amount of premium tax credits for 2021.

No. You do not qualify if you are eligible for other coverage such as Apple Health, Medicare, or employer-sponsored coverage.

The additional premium assistance for individuals who are approved for or receive unemployment income in 2021 will expire December 31, 2021.

In 2022, you may still be eligible for expanded premium assistance provided under the American Rescue Plan to residents regardless of unemployment.

Yes. If you receive unemployment income in 2021, you also get cost-sharing reductions. To receive this benefit, you must select a silver level health plan. When you enroll in a silver plan, you will have a very low deductible and will have very low copays and coinsurance when you use your benefits. If you enroll in a bronze or gold plan, the regular deductibles, copays and co-insurance apply.