CARSON CITY—The recently passed American Rescue Plan Act of 2021 (ARPA) includes savings on health insurance, and the state’s Division of Insurance is encouraging Nevadans to take advantage of those benefits.
“I urge consumers, especially those who have off-exchange plans, have no insurance or have found themselves uninsured to start thinking now about how they can benefit from this new law because certain benefits in the ARPA have deadlines,” said Insurance Commissioner Barbara Richardson. “Each month that a consumer does not take advantage of these new low or no cost opportunities, they are leaving money on the table.”
ARPA was passed in early March by Congress and provides health insurance relief for consumers in a number of areas.
In addition to a reduction in monthly premium costs, ARPA increases the subsidy eligibility for those making above 400% of the Federal Poverty Level. It also has options for $0 premium plans for those on unemployment.
COBRA subsidies are also included—at 100% from April 1 through Sept. 30. COBRA is an insurance available to people who’ve lost their employer-sponsored health coverage due to termination or reduction in hours. Through COBRA, the former employee can pay the full premium cost plus an administrative fee to keep their coverage.
Nevada Health Link, the state’s online health insurance exchange, is already working to implement the changes set forth in ARPA. More information regarding COBRA and other aspects of the ARPA can be found on the Division’s website at https://doi.nv.gov/Consumers/Health_and_Accident_Insurance/American_Rescue_Plan/ and on Nevada Health Link’s website at https://www.nevadahealthlink.com/americanrescueplan/.
Source: Division of Insurance