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Do nothing out of selfish ambition or vain conceit. Rather, in humility value others above yourselves, not looking to your own interests but each of you to the interests of the others. - Philippians 2:3-4
Do nothing out of selfish ambition or vain conceit. Rather, in humility value others above yourselves, not looking to your own interests but each of you to the interests of the others. - Philippians 2:3-4
The American Rescue Plan and What It Means for You
March 30, 2021
The New Law
President Biden signed the American Rescue Plan Act of 2021 (ARP) into law on March 11, 2021. ARP makes major improvements in access to and affordability of health coverage through the Marketplace by increasing eligibility for financial assistance to help pay for Marketplace coverage.
The new law will lower premiums for most people who currently have a Marketplace health plan and expand access to financial assistance for consumers new to the Marketplace.
Under the new law, many people who buy their insurance through the Marketplace will become eligible to receive increased tax credits to reduce their premiums.
Starting April 1, 2021, consumers enrolling in Marketplace coverage will be able to take advantage of these increased savings and lower costs.
Lower costs and expanding access
Under the American Rescue Plan:
- Individuals and families may be eligible for a temporary increase in premium tax credits for this year, with no one paying more than 8.5% of their household income towards the cost of the benchmark plan or a less expensive plan. Meaning, many consumers will be eligible for higher tax credit amounts to help cover their Marketplace health plan premiums.
- Individuals and families get a temporary boost in their premium tax credits.
- Most people across all household income levels will see lower premiums as a result of receiving more tax credits to reduce plan prices. Many consumers with household incomes from 100% to 150% FPL would have $0 premium plans (after tax credits) available to choose from when considering their options and selecting a plan.
- Taxpayers who receive unemployment compensation during any week beginning in 2021 may be eligible to receive premium tax credits to help pay for 2021 Marketplace coverage.
Background on how premium tax credits work
For consumers who are eligible for premium tax credits to help purchase a Marketplace plan, an individual or a family’s tax credit amount is calculated based on the following factors:
- Household’s total expected income for the year
- Total number of people in the household that file taxes together
- The premium amount of the second-lowest cost Silver plan in the consumer’s area in the Marketplace. This is the “benchmark” plan cost used to calculate premium tax credits. It’s not related to which plan a consumer actually chooses to enroll in.
- The tax credit calculation uses a percentage of the household’s income that they need to contribute (spend) on monthly health insurance premiums. This amount is limited based on how their household income compares to federal poverty levels (FPL).
- After the coverage year, consumers who had a Marketplace plan with premium tax credits during the year will need to file their federal income tax return for that year and reconcile the amount of tax credits they received in advance with the final premium tax credit calculation as a part of their tax return. If their house income turns out to be higher than what they estimated on their Marketplace application, the household may need to pay back some or all of the excess premium tax credit they received in advance as a part of filing their tax return. Depending on the circumstances the amount owed back may be capped.
Now is the Time to Take Action
- We are scheduling appointments NOW to update your Marketplace application or to enroll new consumers in a Marketplace plan.
- If you have an existing plan, you MUST have an updated application in order to receive the ADVANCED premium tax credit.
The only thing you need to do is make a quick call to our office, and let us handle the rest.
Call 706-257-5073 today!
Reference: Centers for Medicare and Medicaid Services
As 2025 begins, it’s time to focus on improving health and well-being. Here are some simple yet impactful resolutions to make this year healthier: 1. Prioritize Preventive Care Schedule check-ups, screenings, and vaccinations early to catch potential health concerns before they escalate. 2. Move Daily Stay active with activities you enjoy, like walking, yoga, or dancing. Aim for 30 minutes of moderate exercise most days. 3. Eat Nutrient-Rich Foods Add colorful fruits, vegetables, lean proteins, and whole grains to your diet. Small swaps, like choosing water over sugary drinks, can make a difference. 4. Care for Your Mental Health Dedicate time to reduce stress with meditation, journaling, or time in nature. Seek professional support if needed. 5. Improve Sleep Habits Commit to consistent bedtimes, relaxing routines, and minimizing screens before bed. Aim for 7-9 hours of sleep nightly. 6. Strengthen Connections Nurture relationships with friends and family through meaningful interactions. Social ties boost happiness and health. 7. Set Realistic Goals Break big goals into smaller, achievable steps and celebrate progress. 8. Stay Hydrated Drink at least 8 cups of water daily. Enhance it with a slice of lemon or cucumber for flavor. 9. Limit Screen Time Take breaks, create screen-free zones, and replace digital activities with offline ones. 10. Give Back Volunteering or helping others enhances your sense of purpose and well-being. The Bottom Line Focus on small, sustainable changes for lasting health benefits. Here’s to a happy, healthy, and fulfilling 2025
In today’s digital age, managing your health insurance has never been easier—and creating a profile on your health insurance carrier’s portal is the key to unlocking this convenience. Whether you’re new to a plan or have been with the same carrier for years, setting up an online account can save you time, reduce stress, and provide quick access to critical information. Here’s why having a portal profile is a must for every policyholder. 1. 24/7 Access to Your Plan Details Once you create a profile, you can log in anytime to view your plan’s coverage details, including deductibles, copayments, and out-of-pocket maximums. This eliminates the need to sift through paperwork or wait for customer service during business hours. 2. Easily Access ID Cards Misplaced your health insurance ID card? No worries. Most carrier portals allow you to download digital versions of your ID cards instantly. This is especially helpful during doctor visits, pharmacy runs, or when managing a family member’s care. 3. Track Your Claims and Benefits Understanding what’s been paid, what’s pending, and what you owe is essential. With a portal profile, you can monitor your claims in real time and review your Explanation of Benefits (EOB) statements without waiting for mail delivery. This transparency helps you stay on top of your healthcare finances. 4. Find In-Network Providers Looking for a doctor, specialist, or facility within your plan’s network? Carrier portals often feature search tools that allow you to locate in-network providers quickly. Staying in-network ensures you maximize your benefits and minimize out-of-pocket costs. 5. Manage Prescriptions Many portals include tools to review your prescription drug coverage, locate preferred pharmacies, and even refill medications. If your plan uses mail-order pharmacy services, you can manage and track deliveries right from your portal account. 6. Receive Important Notifications Carriers often send critical updates and reminders through their portals, such as policy changes, claims updates, or renewal notices. Creating a profile ensures you don’t miss out on timely information that could affect your coverage or healthcare decisions. 7. Save Time on Customer Support Need to update your address, change coverage details, or check on a claim? Instead of waiting on hold with customer service, you can make many changes and inquiries directly through your portal. This self-service option saves you valuable time and simplifies plan management. 8. Stay Organized Your health insurance portal acts as a central hub for all your healthcare information. From claims history to medical expenses, having everything organized in one place makes it easier to track spending and plan for future healthcare needs. Take Charge of Your Health Insurance Creating a profile in your health insurance carrier portal empowers you to take control of your healthcare experience. With easy access to your plan details, claims, ID cards, and more, you’ll save time, reduce stress, and make the most of your benefits. If you haven’t already, take a moment to register today—your future self will thank you!