In response to the COVID-19 public health emergency, the Centers for Medicare & Medicaid Services (CMS) has extended the Special Enrollment Period until August 15, 2021. This will allow those enrolling for the first time and current participants, an additional three months to make any changes to their existing plan or enroll in a new policy. In addition, you will be able to review increased tax credits that may help reduce premiums.
The great news is some can expect to see savings that could decrease premiums by up to $50 per individual and $85 per policy per month. There may be enrollees who can upgrade to a higher plan with lower out-of-pocket cost, without an increase in premium. Plan coverages can start as soon as the first month after choosing or changing your policy.
As of July, those individuals who received or are set to receive unemployment benefits anytime during 2021, may see additional savings when they enroll or make changes to their coverage.
Make sure you do not miss the opportunity to re-evaluate or enroll in a new plan! As always, if you have any questions or need further information, please contact me.
