Covered California, the state’s insurance market, estimates that 52,000 people in Santa Barbara, Santa Maria and San Luis Obispo could benefit from lower health premiums provided by the Biden administration’s US bailout.
Under the American Rescue Plan Act, new financial assistance could help California residents save money on health coverage by reducing their health insurance premiums, according to a press release.
Under ARPA, residents can get a high-quality plan for as little as $ 1 per month, saving them hundreds, according to Covered California.
To maximize savings, residents must register by June 30 to start saving and benefit from the new law on July 1.
“The new, expanded financial assistance provided by the American Rescue Plan can help people across the Central Coast get and stay covered by reducing their premiums and putting money back in their pockets,” said Peter V. Lee, Executive Director of Covered California. in a report. “The US bailout has offered consumers the biggest savings since the Affordable Care Act began, but for many people to make the most of those savings, they need to act before the end of the month. “
The new ARPA law applies to thousands of residents living along the central coast.
Premiums can be extended to uninsured residents and insured residents “off the exchange” or directly through a health insurance company without financial assistance.
According to ARPA, all eligible people will pay no more than 8.5% of their household income on their health care premiums if they enroll in the Affordable Care Act market, such as Covered California.
For more information and to verify eligibility, visit couvertureca.com. Consumers can see how they could benefit from the new law by entering their zip code, household income and age of household members to see how low their premiums can be and health insurance options in their area. .
– Madison Hirneisen