Covered California, the state’s insurance marketplace, estimates that 52,000 people throughout Santa Barbara, Santa Maria and San Luis Obispo could benefit from lower health premiums provided by the Biden administration’s American Rescue Plan.
Under the American Rescue Plan Act, new financial assistance could help California residents save money on health coverage by lowering their health insurance premiums, according to a news release.
Under ARPA, residents can obtain a high-quality plan for as little as $1 a month, saving them hundreds, according to Covered California.
To maximize savings, residents need to enroll by June 30 to begin saving and benefiting from the new law on July 1.
“The new and expanded financial help provided by the American Rescue Plan can help people throughout the Central Coast get covered and stay covered by lowering their premiums and putting money back into their pockets,” Peter V. Lee, executive director of Covered California, said in a statement. “The American Rescue Plan provides the most significant savings for consumers since the Affordable Care Act began, but in order for many people to make the most of those savings, they need to act before the month ends.”
The new ARPA law applies to thousands or residents living along the Central Coast.
The premiums can be extended to uninsured residents and residents insured “off exchange,” or directly through a health insurance carrier without financial help.
According to ARPA, everyone eligible will pay no more than 8.5% on their household income on their healthcare premiums if they enroll in the Affordable Care Act marketplace, like Covered California.
For more information and to check eligibility, visit coveredca.com. Consumers can see how they could benefit from the new law by entering their ZIP code, household income and the ages of the people in the household to see how low their premiums can be, and the health insurance options in their area.
— Madison Hirneisen