COVID relief law brings health care savings for Oregonians
SALEM, Ore. (KTVZ) – The American Rescue Plan, signed by President Biden last week, incorporates big savings for Americans who buy health coverage through the Marketplace. The changes expand access to premium tax credits and increase the amount of premium tax credits that people can receive.
The new guidelines removes the upper income limit to qualify for financial assistance, and also sets more strict limits on the most health insurance premiums can cost in relation to gross income. For example, a 55-year-old individual living in La Grande who earns $63,800 per year previously would not have qualified for premium tax credits. Under the new guidelines, this individual will qualify for approximately $442 in monthly savings, lowering a Silver level plan from $876 per month to $434 per month.
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COVID-19 special health insurance enrollment period begins, runs through May 15
SALEM, Ore. (KTVZ) – Monday is the first day of a COVID-19 special enrollment period, which lasts until May 15. This special enrollment period will allow people throughout the U.S., including Oregonians, who are looking for health coverage to shop at HealthCare.gov.
The COVID-19 pandemic has brought significant change to hundreds of thousands of Oregonians, who either lost their job or experienced a loss in income. As a result, these Oregonians may be newly eligible for financial help to purchase health insurance.
Unlike a typical special enrollment period, this enrollment period is available to everyone, not just those who have experienced a life event. Until May 15, any person who is eligible to shop through the Marketplace may enroll in new coverage or change their current plan.