It was in early 2021 that Congressional Democrats passed & President Biden signed the American Rescue Plan Act (ARPA), which among other things dramatically expanded & enhanced the original premium subsidy formula of the Affordable Care Act, finally bringing the financial aid sliding income scale up to the level it should have been in the first place over a decade earlier.
In addition to beefing up the subsidies along the entire 100 - 400% Federal Poverty Level (FPL) income scale, the ARPA also eliminated the much-maligned "Subsidy Cliff" at 400% FPL, wherein a household earning even $1 more than that had all premium subsidies cut off immediately, requiring middle-class families to pay full price for individual market health insurance policies.
Here's what the original ACA premium subsidy formula looked like compared to the current, enhanced subsidy formula:
December 16, 2024—Massachusetts residents have just one week left before the deadline to get health insurance for the new year, but still have the opportunity to make sure they can go into 2025 with coverage that affordably takes care of their health and wellness needs.
Open Enrollment started Nov. 1 and runs through Jan. 23. However, most people who need health insurance—including people who have recently moved to Massachusetts, who are participants in the state’s growing gig and creative economies, or who simply haven’t had health coverage in many months or years—want coverage to start the new year. The deadline for a plan starting Jan. 1 is Monday, Dec. 23.
It was in early 2021 that Congressional Democrats passed & President Biden signed the American Rescue Plan Act (ARPA), which among other things dramatically expanded & enhanced the original premium subsidy formula of the Affordable Care Act, finally bringing the financial aid sliding income scale up to the level it should have been in the first place over a decade earlier.
In addition to beefing up the subsidies along the entire 100 - 400% Federal Poverty Level (FPL) income scale, the ARPA also eliminated the much-maligned "Subsidy Cliff" at 400% FPL, wherein a household earning even $1 more than that had all premium subsidies cut off immediately, requiring middle-class families to pay full price for individual market health insurance policies.
Here's what the original ACA premium subsidy formula looked like compared to the current, enhanced subsidy formula:
I don't really write a whole lot about the Small Group Market, which consists of employer-sponsored healthcare coverage for companies with fewer than either 50 employees (in a few states the small group market serves companies with up to 100 employees).
The bulk of my small group market analysis is limited to my annual Rate Change project, where I break out & analyze annual premium rate changes for carriers in both the individual and small group markets. However, even then, while I try to run the numbers for the small group market in each state, I usually don't have much to say about it, and a lot of states don't provide actual carrier-level enrollment data publicly anyway, which means I can usually only run an unweighted average rate change at best.
Small-group plans effective since January 2014 are required to fully comply with Affordable Care Act (ACA) rules that apply to individual and small-group health plans.
Not only is New Mexico's exchange enrollment up a whopping 31% vs. the same point last year, it's actually already 13.5% higher than the 2024 OEP's final total of 56,472!
It was in early 2021 that Congressional Democrats passed & President Biden signed the American Rescue Plan Act (ARPA), which among other things dramatically expanded & enhanced the original premium subsidy formula of the Affordable Care Act, finally bringing the financial aid sliding income scale up to the level it should have been in the first place over a decade earlier.
In addition to beefing up the subsidies along the entire 100 - 400% Federal Poverty Level (FPL) income scale, the ARPA also eliminated the much-maligned "Subsidy Cliff" at 400% FPL, wherein a household earning even $1 more than that had all premium subsidies cut off immediately, requiring middle-class families to pay full price for individual market health insurance policies.
Here's what the original ACA premium subsidy formula looked like compared to the current, enhanced subsidy formula:
On December 13, 2024, the State was informed by its vendor, Deloitte, that there was a major security threat to RIBridges, the system that manages many of the state’s social services programs. Additionally, Deloitte confirmed that there is a high probability that a cybercriminal has obtained files with personally identifiable information.
This is the State of Rhode Island’s dedicated webpage for all the latest information on the breach. We understand this is an alarming situation, and we appreciate your patience as we investigate this matter. We will continue to navigate this challenge together.
Update 12/16/24: 5 Steps to Protect Your Personal Information Today
Governor McKee issued a public service announcement to encourage potentially impacted Rhode Islanders to take 5 steps to protect their personal information today. (see video above)
Update 12/15/24: RIBridges Data Breach Hotline Now Available
The Maine Department of Health and Human Services (DHHS) Office of the Health Insurance Marketplace (OHIM) will release biweekly updates on plan selections through CoverME.gov, Maine’s Health Insurance Marketplace.
Plan selections provide a snapshot of activity by new and returning consumers who have selected a plan for 2025. “Plan selections” become “enrollments” once consumers have paid their first monthly premium to begin insurance. These numbers are subject to change as consumers may modify or cancel plans after their initial selection.
The deadline to select a plan for coverage beginning January 1, 2025 is December 15, 2024. Consumers who select a plan between December 16, 2024 and January 15, 2025 will have coverage beginning February 1, 2025.
It was in early 2021 that Congressional Democrats passed & President Biden signed the American Rescue Plan Act (ARPA), which among other things dramatically expanded & enhanced the original premium subsidy formula of the Affordable Care Act, finally bringing the financial aid sliding income scale up to the level it should have been in the first place over a decade earlier.
In addition to beefing up the subsidies along the entire 100 - 400% Federal Poverty Level (FPL) income scale, the ARPA also eliminated the much-maligned "Subsidy Cliff" at 400% FPL, wherein a household earning even $1 more than that had all premium subsidies cut off immediately, requiring middle-class families to pay full price for individual market health insurance policies.
Here's what the original ACA premium subsidy formula looked like compared to the current, enhanced subsidy formula:
It was in early 2021 that Congressional Democrats passed & President Biden signed the American Rescue Plan Act (ARPA), which among other things dramatically expanded & enhanced the original premium subsidy formula of the Affordable Care Act, finally bringing the financial aid sliding income scale up to the level it should have been in the first place over a decade earlier.
In addition to beefing up the subsidies along the entire 100 - 400% Federal Poverty Level (FPL) income scale, the ARPA also eliminated the much-maligned "Subsidy Cliff" at 400% FPL, wherein a household earning even $1 more than that had all premium subsidies cut off immediately, requiring middle-class families to pay full price for individual market health insurance policies.
Here's what the original ACA premium subsidy formula looked like compared to the current, enhanced subsidy formula:
