American Rescue Act – Time to Enroll in a Health Insurance Plan
The establishment of the American Rescue Act has changed the landscape of North Carolina health insurance and there has never been a better time to secure a reliable health insurance plan. The American Rescue Act (ARA) was created in 2021 by President Joe Biden in order to deliver immediate economic relief to families all across the United States. The pandemic was devastating to the health and economic security of millions of Americans.
Most Americans are familiar with the third Economic Impact Payments and Child Tax Credits from the ARA. However, the ARA also accounts for other aspects of economic assistance, including homeowner/rental assistance, unemployment benefits, emergency state funding relief, additional tax credits, and lower insurance premiums, which is where we at Carolina Insurance Professionals come in.
What Does This Mean for North Carolina Residents?
North Carolina residents may be able to get more savings and lower their health insurance costs on Marketplace health insurance coverage because of the 2021 American Rescue Plan Act. This new law enacted by the Biden-Harris administration, opens the door for more Americans to earn the health insurance they need. Under the ARA, 40% of new enrollees spend $10 or less on health insurance, thanks to their ARA tax credits. Give us a call at (919) 285-4732 to see how low your new monthly premium can be.
With the American Rescue Plan:
- More North Carolinians than ever will qualify for help in paying for health coverage. The requirements based on income have significantly changed, which makes it critical to consult with a health insurance agent you can trust to review your qualifications.
- Most people currently enrolled in a Marketplace plan may qualify for more tax credits to offset health insurance premiums
- You may also qualify for additional benefits if you already receive unemployment compensation
The first step is seeing if you qualify for savings through the Marketplace for health insurance, Healthcare.gov. Our licensed health insurance agents can help you navigate the qualification process for these benefits. According to the Centers for Medicare & Medicaid Services (CMS), the average consumer can save roughly 40% of their monthly premiums thanks to these tax credits. This kind of savings can drastically change your financial circumstances, and we want to be the ones who help you secure all of the benefits that you are entitled to.
Different Benefits For Different Demographics
The ARA also offers benefits that are targeted at various demographics in North Carolina to ensure that everyone receives the support they need. For example, families can enjoy enhanced tax credits to make health insurance more affordable and accessible. Individuals who already found coverage can reach out to earn substantial subsidies to lower their premiums. Elderly individuals, who typically have higher health care costs, can benefit from increased support to ensure that they have access to the necessary and life-saving medical services they need without financial hardship. Additionally, people who have pre-existing conditions are also protected under the ARA and can benefit from its guaranteed coverage with no discrimination based on their health history.
This comprehensive approach ensures that everyone, regardless of age, family status, or health condition, receives the affordable and reliable health insurance they need. Our healthcare experts can review your unique factors to determine what kind of benefits you qualify for and help you pursue the benefits you need. We are prepared to explain the details surrounding your eligible benefits and the process of earning them while answering any other questions you may have along the way.
Learn How The American Rescue Plan Can Help You
Over the last almost two years, the pandemic has shown us all the importance of having reliable and affordable health insurance coverage. Our licensed health insurance agents know the ins and outs of the American Rescue Plan and are ready to help you find the perfect health insurance plan that can fit your health needs and your budget. Give us a call at (919) 285-4732 or contact us here to see how you can take advantage of what the American Rescue Act has to offer.