Thanks to the American Rescue Plan (ARP), an unprecedented number of Americans currently qualify for premium tax credits – health insurance subsidies that substantially lower the cost of individual health insurance.
Under the ARP, consumers are finding:
That means that millions of Americans who buy their own health insurance – including the self-employed and others who don’t have employer-sponsored health benefits – have been finding comprehensive individual health insurance with lower premiums. In many cases, consumers are eligible for tax credits that mean they pay zero premiums for Affordable Care Act-compliant plans.
Use our health insurance subsidy calculator to see whether you’re eligible for a subsidy – and to see the amount of your your subsidy.
Health plans considered ACA-compliant plans are required to include a list of essential health benefits. These include:
Consumers generally enroll in ACA-compliant individual health plans during the annual open enrollment period (which starts Nov. 1). However, you may still be eligible for income-based premium subsidies and possibly cost-sharing subsidies – if you experience a qualifying life event.
There are 13 qualifying events that trigger ACA special enrollment:
You can call (888) 855-6837 now or click on your state to find out online