How The American Rescue Plan Makes Health Insurance More Affordable For Millions
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a $1.9 trillion economic stimulus bill passed by the 117th United States Congress.
Many people know about the $1400 checks stimulus checks.
But less attention has been paid to the billions of dollars set aside to help make health insurance more affordable.
Below are scenarios of premium subsidies based on the new healthcare legislation.s
American Rescue Plan Savings Scenarios
Household Size: 5
Ages: 44, 40, 14, 12, 8
City & Zip Code: Atlanta, GA - 30319
Old Plan: Blue Cross Blue Shield of Georgia - Silver Plan
Old Monthly Premium: $655.57
Old Annual Premium: $7866.84
Old Copays: $35 Visits, $15 Rx
New Plan: Blue Cross Blue Shield of Georgia - Silver Plan
New Monthly Premium: $293.18
New Annual Premium: 3517.92
New Copays: $35 Visits, $15 Rx
Annual Savings For The Hagens Family $4, 348.92
Ronnie & Deborah
Household Size: 2
Ages: 55, 52
City & Zip Code: Oak Lawn, IL - 60453
Old Plan: Ambetter of Illinois - Bronze Plan
Old Monthly Premium: $1,075.30
Old Annual Premium: $12,903.60
Old Copays: $40 Visits, $30 Rx
New Plan: Bright Health - Bronze Plan
New Monthly Premium: $439.04
New Annual Premium: $5,268.48
New Copays: $0 Visits, $25 Rx
Annual Savings For Ronnie and Deborah: $7,636.12
Household Size: 1
City & Zip Code: San Luis Obispo, CA - 93401
Old Plan: Blue Shield of California - Bronze Plan
Old Monthly Premium: $852.00
Old Annual Premium: $10,224.00
Old Copays: $65 (3 per year) Visits, Full Price Rx until $6,300 deductible is met
New Plan: Blue Shield of California - Silver Plan
New Monthly Premium: $294.00
New Annual Premium: $3,528.00
New Copays: $40 Visits, $16 Rx
Annual Savings For Mr. Quintanilla $6,696.00
“Just saying the word ‘savings’ does not do these provisions justice, It’s not just a one-off discount or a coupon. It’s a complete transformation in the way people pay for health insurance.”
~ Jessica Altman, Pennsylvania Insurance Commisioner
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90% of applicants are entitled to additional subsidies
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