This is a HUGE deal, especially in California, where an estimated 430,000 residents are enrolled in off-exchange ACA policies which are virtually identical to their on-exchange equivalent, with the sole distinction of those enrolled in them not being eligible for ACA subsidies.
With subsidies being beefed up and the 400% FPL subsidy cliff having been killed (for the next 2 years, at least), this means that hundreds of thousands of Californians have just become eligible for thousands of dollars in savings...as long as they transition to the same plan on-exchange.
Your Health Idaho, which had been scheduled to end their COVID-19 Enrollment Period on March 31st, has understandably extended the deadline out by another month in light of the American Rescue Plan's expanded/enhanced subsidies. Via email:
Enhanced Subsidies Go into Effect at Your Health Idaho April 1
Your Health Idaho Continues to Enroll Idahoans through April 30, 2021
BOISE, Idaho –Your Health Idaho, the state insurance exchange, will remain open throughout the month of April so Idahoans can take advantage of enhanced financial assistance, which lowers consumer’s monthly premiums.
For the first time ever, tax credits, which act like an instant discount, may be available for those who were not previously eligible and will be increased for Idahoans who already receive them. For some Idahoans, these savings can be significant. For example, a Treasure Valley married couple in their 20s making $50,000 a year could pay less than $10 a month and a family of four making $105,000 could pay as little as $200 a month.
In the United States, major medical insurance policies for those who don't have healthcare coverage through their employer, Medicare, Medicaid, CHIP, the Veteran's Administration or some other source are available via the ACA's individual market exchanges. The individual market for residents of 36 states is HealthCare.Gov; the remaining 14 states + DC each have their own ACA exchange, such as Covered California, NY State of Health and so forth.
There are usually dozens of ACA policies available via the ACA exchanges, but they fall into five major categories: Catastrophic, Bronze, Silver, Gold and Platinum plans (other major distinctions include HMOs vs. PPOs and other variables,but those are for another day).
With rare exceptions, Catastrophic plans are only available to enrollees under 30 years old. ACA premium subsidies can't be used to help pay for Catastrophic plans either, so enrollment is rare; during the 2020 Open Enrollment Period, only 89,000 ACA exchange enrollees selected Catastrophic plans out of over 11.4 million total, or just 0.8%.
A few weeks ago, Pennie (Pennsylvania's ACA exchange), like several other state-based exchanges, put out a simple statement celebrating the passage of the American Rescue Plan (ARP) and the dramatic improvement in ACA affordability that it brings for the next two years. Like most of the other exchanges, Pennie's initial press release was pretty bare-bones, as the bill had just been signed into law and there were a ton of logistical details to be worked out.
The Kaiser Family Foundation has updated their ACA Exchange Subsidy Calculator tool, which lets you plug in your household information and calculate how much you're eligible for in subsidies, as well as telling you things like:
Your percent of the Federal Poverty Level (FPL)
The full-price benchmark Silver plan
Your net price for the benchmark Silver plan
The net price of theleast-expensive Bronze plan
The maximum you'd have to pay in out-of-pocket costs
It's been updated to reflect the newly-expanded & enhanced subsidies available under the American Rescue Plan for 2021 & 2022. The official ACA exchange websites will have this data available over the next few weeks depending on which state you live in (HealthCare.Gov is supposed to go live on April 1st; Covered California on April 12th; other states will vary):
Connect for Health Colorado Extends Enrollment Period through at least August 15
DENVER — Yesterday afternoon, President Biden announced that the federal health insurance marketplace, HealthCare.gov, will extend the current enrollment period through August 15, 2021, to help as many people as possible get covered following the passage of the American Rescue Plan Act of 2021.
Connect for Heath Colorado® Chief Executive Officer, Kevin Patterson, released the following statement in response:
“We will follow the federal decision so that we can help as many Coloradans as possible get covered this year. Keeping our doors open through at least mid-August maximizes the number of people who can apply for financial help and enroll through our Marketplace, especially as our state recovers from the pandemic. We will share more details soon about how Coloradans who are newly eligible for benefits under the American Rescue Plan can get those additional savings.”
At the time, HealthCare.Gov had reported 206,000 Qualified Health Plan (QHP) selections as of February 28th. I also had some partial COVID SEP data from a handful of the state-based ACA exchanges, as of various dates. I had 225,000 QHPs confirmed nationally.
At the time, I concluded that based on the enrollment pace of the first few weeks...
As noted above, Medicaid expansion states have only increased average SEP enrollment by around 2/3 as much as Non-expansion states. Since all 15 state-based exchanges have expanded Medicaid, this suggests that the 206K via HC.gov probably represents more like 80% of the total, meaning perhaps 258,000 nationally (~168,000 more than average).