ARP puts more ‘affordable’ in the Affordable Care Act

arp puts more affordable in the affordable care act • ARP puts more ‘affordable’ in the Affordable Care Act American Rescue Plan, American Rescue Plan Act, Blog, cost-sharing reduction
The American Rescue Plan Act (or American Rescue Plan), signed into law by President Biden on March 11, provided many types of relief to Americans from the economic ravages of the COVID-19 pandemic. Among them, the American Rescue Plan (ARP) put the “affordable” in “Affordable Care Act” for millions of Americans.

Did ARP make coverage more affordable at all income levels?

The American Rescue Plan increased premium subsidies at all income levels for health plans sold in the ACA marketplaces, reducing the percentage of income that enrollees have to pay for the “benchmark” plan in their area – that is, the second-cheapest Silver plan.

Supreme Court dismisses ACA challenge

The Supreme Court upholds the Affordable Care Act. What it means for policyholders.

At incomes up to 150% of the Federal Poverty Level ($19,140 for an individual, $39,300 for a family of four), the benchmark plan is free, and from 150% up to 200% FPL ($25,520 for an individual, $52,440 for family of four), benchmark Silver costs no more than 2% of family income. Silver plans at these income levels come with strong cost-sharing reduction (CSR) that reduces deductibles and out-of-pocket costs. Weaker CSR is available up to 250% FPL.

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