New Tax Credits Available For Healthcare.gov Enrollees
Healthcare.gov has opened a special enrollment period starting April 1. Those in need of an Affordable Care Act health plan will be able to enroll through Aug 15.
This special enrollment period includes tax credits from the latest federal pandemic stimulus package, allowing people enrolling in the marketplace to reduce the cost of their insurance plans.
"There’s going to be increased subsidies available to everybody that gets their health insurance on the healthcare.gov marketplace," says Jeremy Smith with MT Navigator, a free service that helps people sign up for health insurance on the federal marketplace.
According to the Centers for Medicare and Medicaid Services, on average, the tax credits will save an enrollee $50 per month.
Smith says those who qualify for COBRA plans through their former employer may also qualify for subsidies.