Updates on the American Rescue Plan Act (ARPA):
Nevada Health Link is targeting on or around April 19, 2021 for full implementation of ARPA subsidy and Unemployment Insurance rules.
Changes made after the ARPA implementation will take effect the first of the following month.
This timeline and implementation require an enormous amount of testing and may require additional time; however, the Exchange is confident in this target date of implementation.
Rule changes will only apply prospectively.
Nevada Health Link will extend the duration of the current Special Enrollment Period/Open Enrollment Period from May 15, 2021 through August 15, 2021 to match the federal (HealthCare.gov) extension.
Nevada Health Link anticipates SEP rule changes to allow consumers to change plans – this will be in effect in April of 2021. This means consumers will have an opportunity to change their plans between April 19th and August 15th.
Nevada Health Link will run batch jobs to apply new premium tax credits/subsidies to any application not previously modified in April through June to be effective June 1, 2021.
Nevada Division of Insurance (DOI) ARPA Support:
The American Rescue Plan Act of 2021 (American Rescue Plan increases the opportunity for more Nevadans to receive subsidies, including Nevadans making over 400% of the federal poverty level.
With this new law, no matter your circumstances, you may be able to save more money for health insurance coverage. What the American Rescue Plan means for Nevadans:
Consumers who previously did not qualify for a subsidy (tax credits to help pay monthly premium costs for insurance) or not enough subsidies because their income was considered too high, may now be eligible for subsidies or increased subsidies for the first time.
Consumers on unemployment could be eligible for a $0 premium plan.
Consumers who have a plan off-exchange may be eligible to buy a comparable plan on the Exchange for a cheaper price thanks to the expansion of subsidies.
Consumers who already have a plan via Nevada Health Link and receive subsidies can see an even lower premium.
People who lost their job and health insurance due to COVID-19 may now obtain a COBRA plan at no premium cost.
Please contact us at 702-258-1995 if you have any questions or would like clarification on any of this information.
Useful Links:
Helpful IRS Resources Q&A on the ARPA Premium Tax:
https://www.irs.gov/pub/irs-pdf/p4849.pdf; https://www.irs.gov/affordable-care-act/individuals-and-families/questions-and-answers-on-the-premium-tax-credit