American Rescue Plan updates and how they affect you.

At Highmark member, we want to make sure you understand how the recent changes to the Affordable Care Act (ACA) impact you, so you can continue get the best use of your plan, and your dollar. Remember, the sooner you take action, the sooner you'll know your savings.

What is the ARP?

What is the ARP?

The American Rescue Plan (ARP) Act was signed into law on March 11, 2021. This COVID-19 relief bill included the first major exansion of the ACA since its origination in 2010.

Under the new law, many people who buy their own health insurance directly through the Marketplace will become eligible to receive increased financial help. This means that you may get more, or be newly eligible to receive, tax credits which help to reduce your monthly premiums.

How much will I save?

Premiums after tax credits will decrease, on average, by about $50 per person per month. Four out of five Marketplace enrollees will be able to find a plan for $10 or less a month with premium tax credits, and over half will be able to find a Silver plan for $10 or less with tax credits (https://www.cms.gov/newsroom/fact-sheets/american-rescue-plan-and-marketplace).

Scenarios vary, so please update your application to determine your exact savings.

Dani

Dani

  • Individual
  • Non smoker
  • 40 years old
  • Single
  • Annual Income: $19,140

Under the old law, she would be paying an estimated $66 a month for the benchmark plan — but with the new changes, she pays $0 a month.

Ted & Linda

Ted and Linda

  • Married couple
  • Non smoker
  • Both 64 years old
  • Annual Joint Income: $77,580

Before, they would be paying an estimated $2,400 a month for the benchmark plan — but now will pay $550.

To see what your savings would be, call a trusted Highmark advisor today at 855-329-1759 and they can guide you through the application process.

How does this work for me?

Click on one of the questions below to see the answer

 

If I’m currently enrolled in a Marketplace plan, how do I receive the additional tax credits/lower premiums?

Current Highmark members who buy their own health insurance directly through the Marketplace can easily update their
application online or call a trusted Highmark advisor at 855-329-1759 in order to see how much you'll save, or if you’re newly eligible for tax
credits. Enrollees who take action now can potentially see savings on next month's premium.

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Who can I talk to if I need help or want to discuss a Highmark Individual ACA or Family plan?

Our Highmark advisors are here to guide you through every step of the process. Call 855-329-1759 Monday through Friday between 9 a.m. - 7 p.m. and Saturday 9 a.m. – 2 p.m., if have any questions or if you'd prefer to update your application with an advisor over the phone.

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If I'm currently enrolled through the Marketplace, what will happen if I don't update my application?

Those who enrolled in Marketplace plans prior to April 1, 2021 have the choice of waiting until they file their 2021 taxes next year to receive the additional premium tax credit amount. However, it's recommended that all enrollees update their application as  soon as possible to take advantage of the increased financial assistance this year.

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Will the Marketplace automatically update premium tax credits on behalf of current enrollees?

No. Enrollees must take action to update their application in order to receive increased financial help this year.

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If I currently purchase an ACA plan outside of the Marketplace what do I do?

We encourage current or prospective Highmark members who did not purchase their plan through the Marketplace to call one of our licensed Highmark advisors as soon as possible. They can help guide you through the process of submitting a new application.

If you don’t enroll in a plan directly through the Marketplace before August 15, 2021, you will not be eligible to receive financial assistance this year. After then, you will only be able to enroll in a Marketplace plan if you have a qualifying life event that qualifies you for a Special Enrollment Period (SEP). Should you change your mind after August 15 and not qualify for an SEP, plan changes can be made during the 2022 Open Enrollment Period (OEP), which begins on November 1, 2021, for coverage beginning January 1, 2022.

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What can I do if I am new to the Marketplace or am uninsured?

From now until August 15, 2021, consumers have access to an enrollment period without having a qualifying life event that allows them to enroll in an ACA individual or family plan. By calling a licensed Highmark advisor at 855-329-1759 or going “online” to: healthsherpa.com you can review available Highmark plans and find out how much you may be eligible to save on monthly premiums. ARP has expanded how much you may be able to save, so if you have checked before April 1, 2021, it may be a good idea to check again.

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How do Advanced Premium Tax Credits (APTC) work?

An individual or family's tax credit amount is calculated based on the following factors:

  • Household's total expected income for the year
  • Total number of people in the household that file taxes together

This is to prevent any member or household from paying more than a certain percentage of their income on health insurance coverage. These percentages differ based on income and are limited based on how their household income compares to the Federal Poverty Level (FPL).

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What is a benchmark plan?

A benchmark plan is the second-lowest cost Silver plan available on the Marketplace in a given area. The price of this plan is used to calculate premium subsidies. The benchmark plan will vary from one part of a state to another.

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What is a Silver plan?

ACA plans are organized by metal levels. When signing up for a plan, you can choose how you want to split up your costs with your insurer. Silver plans include moderate premiums and out-of-pocket costs. Note, the quality of care is the same for every metal level.

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Don’t miss out on your savings.

Take action today.

If you have any questions or need help with the application process, talk to a trusted Highmark advisor today.

Call 855-329-1759 Monday through Friday between 9 a.m. – 7 p.m., Saturday, 9 a.m. – 2 p.m.