April 13, 2021
The American Rescue Plan, the new federal stimulus bill, provides more than $3 Billion for Californians to lower their monthly cost of health insurance. These additional dollars are so important since they may reduce a Covered California enrollee’s monthly health insurance cost by nearly half! Covered Ca wants to make sure members are aware of this historic amount of financial help – and it’s only available through Covered California.
By the end of April, members will receive an important notice from Covered California detailing the financial help (also known as premium assistance) through the American Rescue Plan.
Members may receive even more financial help than they currently receive to lower their monthly cost of health insurance
The amount of financial help households will receive is based on household income, where they live and family size on file with Covered California.
This new financial help will begin in May, but it may take a few billing cycles before this additional financial help is accurately reflected on member’s monthly bill – depending on their health insurance company. This additional financial help on member’s monthly bill will also include financial help for the months they are insured in 2021 prior to May and will last until the end of 2022.
What do members have to do to get this additional savings? Nothing.
Since Covered CA has your income on file, they will calculate member’s new financial help automatically! Watch for the notice from Covered California either in the mail or as an email with instructions to check the online account – you can find the notice in your Secure Mailbox too.