You may be able to get more savings and lower costs on Marketplace health insurance coverage due to the American Rescue Plan Act of 2021. Under the law:
More people than ever before qualify for help paying for health coverage, even those who weren’t eligible in the past.
Most people currently enrolled in a Marketplace plan may qualify for moretax credits
.
Health insurance premiums
after these new savings will go down.
How to find out if you qualify for Marketplace savings
Notice: Lower costs continue through 2025
The Inflation Reduction Act keeps these savings and lower costs through 2025. If you qualify for savings, you’ll find out the lower costs when you shop for plans.
When you apply for Marketplace coverage, you’ll discover if you qualify for a premium tax credit that lowers your monthly premium.
The amount of your premium tax credit depends on the estimated household income that you put on your Marketplace application.