One thing is inevitable with health insurance – it can change with each new plan year! 

Here’s what you need to know.

SB Health Insurance updates for 2019

President Biden’s American Rescue Plan (2021) “temporarily” increased and expanded financial help to help people recover from the effects of the pandemic.  This plan was set to EXPIRE 12-31-2022.

In August 2022, President Biden signed the Inflation Reduction Act into law that will continue the increased and expanded premium subsidies through 2025, and likely make them permanent in the future.

  • People with higher incomes—who did not qualify in the past—might now qualify for a premium subsidy.
  • People who currently receive a subsidy will continue to get a larger subsidy.

The Guiding Principle of the new legislation: if your health insurance costs more than 8.5 percent of your adjusted gross income, you may qualify for a subsidy.

The BIG question is whether you qualify for a premium subsidy?

In a nutshell: if you were close to getting a subsidy in the past, you should check to see if you now qualify for one now.