The American Rescue Plan, which became law on March 11, 2021, delivers new and expanded assistance to millions of Americans – and hundreds of thousands of Kentuckians – to help lower the cost of their health insurance.
The financial assistance available to help pay for insurance through the Affordable Care Act has been increased, which means most people who already get help paying for insurance will get more support and have lower monthly premiums, and Kentuckians who did not qualify previously may now be eligible.
Starting April 1, 2021, current enrollees must return to HealthCare.gov and update their application to receive the increased payment assistance this year. This means that new and current enrollees who submit an application and select a plan on or after April 1 will receive lower monthly premiums (due to increased payment assistance) for 2021 Marketplace coverage. If current enrollees don’t take action, they’ll still receive the increased benefit as part of their premium tax credit when filing their federal income tax return next year.
Visit the HealthCare.gov More Savings page to learn more and review your options.