Millions of qualified Americans who are eligible to receive unemployment benefits this year will be able to apply for free or heavily discounted health insurance under U.S. President Joe Biden's $1.9 trillion American Rescue Plan.
The act was first signed into law in March. It will provide no-cost and low-cost health care plans starting on July 1. The Affordable Care Act has put into effect special subsidies that result in lower prices for certain silver-level policies, bringing some down to $0 per month.
Free Health Insurance Plans
Experts estimate that three out of five Americans will be eligible to apply for the subsidies, gaining access to free health care plans up through the end of the year. The Department of Health and Human Services said that about four out of five Americans who are users with HealthCare.gov will be eligible for plans that cost $10 or less a month.
Residents who have yet to be approved for unemployment benefits but have already applied will also be eligible to apply for the no-cost and low-cost health insurance plans. Xavier Becerra, the secretary of the HHS, said during a news release that the Biden-Harris administration was prioritizing giving relief support to millions of residents suffering amid the coronavirus pandemic. These are families struggling to have access to affordable health insurance coverage after losing their primary source of income, The Sun reported.
Becerra said that the government has made it far easier for Americans to get access to affordable, comprehensive health insurance plans through the HealthCare.gov website. The project was possible only through the help of the American Rescue Plan.
The legislation also included $1,400 stimulus checks and monthly child tax credit payments as forms of financial relief for Americans. Its distribution of no-cost and low-cost health insurance plans only has one major requirement, that is, a resident has received or has been approved to receive unemployment benefits for this year.
CMS Administrator Chiquita Brooks-LaSure said during a news release that they were working tirelessly to help Americans be able to afford health insurance. She added that the American Rescue Plan gave consumers the ability to get plans that they would normally not be able to afford, WHNT reported.
Providing Additional Relief Packages
Many believe that the majority of Americans will try to take advantage of the free or cheaper health insurance plans. As the coronavirus pandemic continues to spread, the country's unemployment rate has remained high, leaving many residents without a source of income for their daily necessities. On Thursday, the government reported that there were nearly 3.5 million Americans without a job.
Eligible residents who want to apply for health insurance plans can do so at HealthCare.gov. Simply provide your information and look for a plan that you can afford. The deadline for signing up is on August 15, 2021, where the agency will close off the current open enrollment period, said Biden administration officials. Additionally, the law said that a person's income will not play a factor in whether or not you are eligible for the plans, Yahoo Finance reported.
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