The Affordable Care Act special enrollment period will be extended for three months to August 15 the Biden Administration announced Tuesday.
“As a result of the American Rescue Plan, additional savings will be available for consumers through HealthCare.gov starting April 1,” a statement from the U.S. Department of Health and Human Services read.
“These savings will decrease premiums for many, on average, by $50 per person per month and $85 per policy per month, On average, one out of four enrollees on HeathCare.gov will be able to upgrade to a higher plan category that offers better out of pocket costs at the same or lower premium compared to what they’re paying today.”
The announcement was made on the 11th anniversary of the signing of the Affordable Care Act.
“Through this Special Enrollment Period, the Biden Administration is giving the American people the chance they need to find an affordable health care plan that works for them. The American Rescue Plan will bring costa down for millions of Americans, and I encourage consumers to visit HealthCare.gov and sign up for a plan before August 15,” Xavier Becerra, HHS secretary, said.
According to the Centers for Medicare & Medicaid Services, 76,000 people signed up for Obamacare plans during the second half of February. Earlier this month, the Biden Administration announced that Affordable Care Act enrollees and those that are looking for coverage can access the premium subsidies on the federal exchange on April 1. Individuals that are unemployed will have to wait longer to enroll.
Those who sign up will pay no more than 8.5% of their income and lower-income policyholders will receive subsidies that eliminate premiums, according to CNN.