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In 2021, health insurance just got less expensive.
Individuals and families may be eligible for a temporary increase in subsidies (Advance Premium Tax Credits) for this year, with no one paying more than 8.5% of their household
income towards the cost of their insurance plan.
Many customers could become eligible for higher tax credit amounts to help cover their health plan premiums.•Under the ACA, people with income above 400% FPL were not eligible for Marketplace premium subsidies. These customers may not receive tax credits if the benchmark plan is less than the 8.5% household income threshold.•If a consumer updates his/her application within a particular month, the updates will not take effect until the first of the following month. As an example, if a consumer updates her application in the month of April, the update will not take effect until May 1.
it’s simple to check to see your premium tax subsidies and get covered. It takes less time than checking a Powerball ticket.