2021 Changes to NC Health Insurance Premiums and Marketplace Subsidies

Major changes have been implemented to lower health insurance costs for people purchasing their coverage through the Health Insurance Marketplace.  Under the American Rescue Plan of 2021, many Americans will become newly eligible for federal government subsidies applied toward monthly Insurance premiums.  This will trigger plans to be much less expensive for many people that have shopped for health insurance through the Marketplace in years past. 

Who is Eligible?

  1. People with Higher Income:

Since the introduction of the ACA, individuals and families making over 400% of the Federal Poverty Level (FPL) did not qualify for a subsidy.  After April 1st, 2021, many people making a higher income or over 400% of the FPL will be eligible for a subsidy.  This federal subsidy will help reduce the cost of the health insurance.  Many Americans will pay significantly lower monthly premiums for Individual market health plans.

2. People currently eligible for a Subsidy:

Many people who are already eligible and already receiving a subsidy will qualify for more subsidy.  Estimates indicate that most people will see health insurance costs decrease and some will pay as little as $0 per month with the new subsidies applied.  This group should see a significant change in the cost of plans.

When Can I Apply or Change My Plan?

The Federal Government has created a Special Enrollment Period which will allow health insurance shoppers to enroll in a plan now.  This Enrollment Period is currently set to end on Aug 15th, 2021.  Once you apply, coverage can become effective as early as the 1st of the month following when you apply.

You can View Plans and Apply Online here for a plan through the Health Insurance Marketplace.

Comments are closed.

Individual & Family Plans
Medicare Plans
Dental & Vision Plans
Short-term Plans