The Affordable Care Act (ACA, Obamacare) is a law mandated by the federal government to reform health care and improve access. Some people don’t get a grant… it all comes down to income, federal poverty level, and a nifty eligibility chart.

In fact, you don’t have to sign up through Covered California, you can sign up “non-exchange,” which means directly through the carrier. A lot of people who know they don’t qualify for a grant will go straight.

Often times this all ends up being a conversation about the cost of health insurance and that even with a subsidy some pay up to 20% of their income.

Now let’s move on to the US bailout!

So … signed on March 11, 2021, the US bailout will increase premium aid through swaps (e.g. Covered California) and remove the “cliff” that has made many people ineligible for grants because of their income. exceeded 400% of the Federal Poverty Level for 2021 and 2022.

This is exciting because we insurance brokers now have more options to provide financial assistance. Depending on the size and income of the household, our nifty little rate chart has grown larger.

Another incentive from ARPA is that covered California registrants will not have to pay more than 8.58% of their household income. In addition, registrants who earn more than 400% of the FPL may be eligible for federal financial aid.