📣 Assuming the #AmRescuePlan makes it through final House passage & is signed into law by President Biden, these graphs are going to be extremely important for the next two years:
acasignups.net/21/02/04/aca-2…
acasignups.net/21/02/04/aca-2…
📣 Under the #AmRescuePlan, #ACA enrollees who are ALREADY receiving financial subsidies would see savings of up to $3,000/year or more on average...
...and enrollees who AREN'T currently eligible for subsidies would see savings of up to $17,000/year or more.
That's not a typo.
...and enrollees who AREN'T currently eligible for subsidies would see savings of up to $17,000/year or more.
That's not a typo.
📣 IMPORTANT: The expanded #ACA subsidies under the #AmRescuePlan are supposed to be *retroactive* to the beginning of 2021, which means *current* ACA enrollees are supposed to receive the extra subsidies dating back to January!
I don't know what form that will take, however.
I don't know what form that will take, however.
The retroactive extra #ACA subsidies may be in the form of an add'l rebate check, *or* they may be applied as credit towards future premium payments, *or* they may not show up until you file your taxes next spring. However, that's still hundreds or thousands of dollars apiece!
The biggest deal here is that MIDDLE CLASS people will be eligible for ACA subsidies for the first time! A family of 4 earning $106,000 would save $610/month on average nationally!
And by an amazing coincidence, every state has re-opened their #ACA exchange for people to enroll in coverage via the COVID Enrollment Period going on *right now*: acasignups.net/21/03/01/2021-…
IMPORTANT: If you enroll today, the subsidy formula hasn’t been updated yet since the #AmRescuePlan isn’t signed into law yet. Most states are keeping enrollment open thru 5/15, so you might consider waiting until it’s official if you earn too much for subsidies right now.
As an aside, if you find my healthcare analysis/advocacy work useful *and* can afford to do so, you can support it here, thanks! acasignups.net/donate
📣 UPDATE: I mentioned this upthread, but given how close the #AmRescuePlan is to FINAL House passage/being signed (hopefully sometime this week), at this point I'd recommend waiting until it's official before enrolling just to avoid confusion.
Note: The examples in the first link upthread are all based on *average* 2021 benchmark Silver premiums nationally.
Here's the most extreme example: Kay County, Oklahoma (population 44,000):
acasignups.net/21/02/18/aca-2…
Here's the most extreme example: Kay County, Oklahoma (population 44,000):
acasignups.net/21/02/18/aca-2…
In Kay County, OK (+ a handful of other OK counties), an older couple earning $70,000/yr would go from paying as much as an insane 66% of their income in premiums (which obviously they'd never do) to just 8.5%.
Then again, the median household income there is just $38K, so...
Then again, the median household income there is just $38K, so...
Point being, while it's theoretically possible that some people with pretty high incomes would receive subsidies if they live in counties with really high benchmark ACA premiums, those are outliers, and the amount of the subsidies would be very small at the upper limits.
The majority of people earning that much money have employer coverage to begin with, and my guess is very few of them live in counties with benchmarks that high anyway.
Plus, those w/high-end employer coverage are ALREADY getting thousands in tax-free benefits to begin with.
Plus, those w/high-end employer coverage are ALREADY getting thousands in tax-free benefits to begin with.
📣 ALSO: This thread mostly focuses on those earning more than 400% FPL, but those earning 100 - 150% FPL would see their premiums for a benchmark Silver plan drop to NOTHING. Combined with CSR subsidies, their deductible and co-pays are extremely low as well w/a Silver plan.
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