Silver Age Professionals of America

Health Insurance and The American Rescue Plan of 2021

Health Insurance ACA and STM Through Federal Facilitated Marketplace

What Is New In Health Insurance For 2021?

     Last OEP did you have issues finding affordable Health Insurance Coverage? Well, you are in luck the American Rescue Plan Act of 2021(ARP) has made it to where you may find affordable coverage now. One of the reasons you may find more affordable coverage is the ARP set things to where people are now eligible for an Advanced Premium Tax Credit (APTC), allowing those above 400% of the Federal Poverty Level to receive a subsidy that was not available in 2020’s OEP. Even those who already have APTC can receive more APTC subsidies because of ARP. Those that lost coverage due to non-payment of premium can find affordable coverage because of ARP. 

     The legislation has changed the affordability for all so those who have planned should shop those who do not, will save. Those who are jumping back into Health Insurance Coverage can now enroll but also save. Nearly everyone can save. Contact one of our Under 65 Health Insurance Professionals during NOV 1-Dec15 2021 and see what new plans are available and see maybe how much you can save by re-enrolling in the Health Insurance Plan you currently have by enrolling with your new subsidy. 

     No matter who you may be you may be able to save. Saving is key to survival right now for so many and these laws are made to help you. So help yourself to direct contact with one of our U65 Health Insurance Professionals. Use the Contact Form below to contact one today. 

Leaving A Job? Involuntarily Being Removed From Employment?

Find ou more about your options in COBRA.

     COBRA is an acronym for legislation by the name of The Consolidated Omnibus Budget Reconciliation Act (COBRA) which gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain scenarios such as leaving a job, being fired from a job, reduced work hours, going from job to job, death, divorce, and other situations in life. Individuals that qualify may be required to pay the entire premium for coverage up to 102% of the cost to the plan.

     Generally, COBRA requires that group health plans sponsored by employers with 20 or more employees in the prior year offer employees and their families the opportunity for a temporary extension of health coverage (called continuation coverage) in certain instances where coverage under the plan would otherwise end. The law outlines how employees and family members may elect continuation coverage, requiring employers and plans to provide notice.

ARP has allowed more

The American Rescue Plan Act of 2021 (ARP) provides temporary premium assistance for COBRA continuation coverage and, where the employer elects to offer the option, an opportunity to switch to a different health plan option offered by the employer. The premium assistance is available to certain individuals who are eligible for COBRA continuation coverage due to a qualifying event that is a reduction in hours or involuntary termination of employment. 

If you qualify for the premium assistance, you need not pay any of the COBRA premium otherwise due to the plan. This premium assistance is available from April 1, 2021, through September 30, 2021. If you continue your COBRA continuation coverage beyond that date, you will have to pay the full amount due. However, when your premium assistance ends, you may qualify for a special enrollment period to enroll in coverage through the Health Insurance Marketplace® 

Need Help Understanding The ARP General Notice and COBRA Continuation Coverage Election Notice?

The ARP general notice and the COBRA continuation notice can be found thoroughly explained through a form available on the United States Department of Labor’s Webpage. Use the button below to get your pdf instruction.

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Use The Form Below To Contact A Silver Age Professional That Can Assist You On The Federal Marketplace

Submitting this contact form will initiate a call, text, or email from a Silver Age Professional or one of their Affiliates. Be sure to look out for email communication on who your Professional will be. Our time is limited as the knowledge behind our niche is also limited. Please be patient, a Silver Age Professional will be in contact with you. By accepting these terms it is an agreement that you will make time for the Broker and remain responsive to the lines of communication you provide as not to provide spam emails or phone numbers without answering machines. As a reminder this is Insurance Business and all forms, documents, and written communications are recorded and require legitimate information. Illicit requests (request made with others information) may be prosecuted.
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