On January 28, 2021 President Joe Biden signed an Executive Order to, among other things, create a special open enrollment period on the Healthcare Marketplace. This special enrollment period is enabling those who could not enroll previously. The previous enrollment period was to run from February 15, 2021 until May 15, 2021. Then in March, President Biden announced an extension to the special enrollment period that extended until August 15, 2021. This allows more people to enroll or to update their application to partake of additional subsidies. In this article, we review the changes that Joe Biden made with his executive order.
Special Enrollment Facts
It is worth noting that the Special Enrollment period applies to all states participating in the federal health insurance marketplace. States that have their own health insurance marketplace can set their own special enrollment period. If you are currently participating in or applying for coverage under your state’s marketplace, please make a note of the state-specific deadline and coverage effective dates. This will help you submit your application in time.
As of the first week of April, over 500,000 people have signed up for coverage under the special enrollment period. This number demonstrates a higher rate of enrollment through the marketplace than the last two years. Of those who have enrolled and have provided their race, there was also a demonstrable increase in the number of minority enrollees.
American Recovery Act of 2021
Effective in March, additional subsidies have been approved for the federal marketplace. These subsidies allow for many Americans to obtain a higher tier health insurance plan at a lower premium. The special enrollment period was extended as a result of this Act to allow for a greater number of people to apply who could not qualify for enough subsidies in the past. These people found that they were now eligible for subsidies that made health insurance more affordable. Those who already had health insurance coverage through the marketplace can apply for these subsidies under the special enrollment period. Simply resubmit your application in the exchange before August 15. If you qualify for the additional subsidies, your insurance premiums will adjust accordingly.
Polls estimate that more than half of currently uninsured Americans can find quality health insurance coverage at little or no cost under the American Recovery Act of 2021. To find out if you qualify, go to healthcare.gov and start your application today. You can begin an application at any time during the open enrollment period with no obligation to select a plan. However, under the American Recovery Act, many people are finding that health insurance coverage is possible and affordable for them and their families. Keeping you and your family healthy is a top priority. With a newly selected health insurance plan, that dream can become a reality at little to no cost out of pocket. See what you can qualify for today.