American Rescue Act Opportunities

Lucas Zerbe

The last year has changed many things across the country form buying groceries to Health Insurance. As Sales professionals most of you know with change comes great opportunity. That is what has happened with the Passing of the “American Rescue Act”. Within the thousands of pages of this new law are important changes to the ACA that will affect both your current and future clients.

  • Enrollment extended until August 15 th , 2021.
  • Large Subsidy Increases to current and future enrollees.
  • Individuals on unemployment will be eligible for a zero-dollar Silver Plan.
  • Expansion of subsidies above 400% of the FPL
    Extended Enrollment: With the Covid-19 still going on the federal government has decided to extend the enrollment period which people can sign up for health insurance. This will allow you to continue to market health coverage to all income groups for the next several months.

Extended Enrollment: With the Covid-19 still going on the federal government has decided to extend the enrollment period which people can sign up for health insurance. This will allow you to continue to market health coverage to all income groups for the next several months.
Subsidy Increase: Many of our clients have heard something about a subsidy increase but have no idea if applies to them. This confusion provides a huge opportunity for you to reach out and give your clients the good news that Yes it does apply to them. You can then help them reduce their monthly premium and add additional ancillary products that will increase the quality of their benefits. 
Unemployment: Many of your clients have over the past year lost their jobs and do not know how they will be able to afford their health insurance. The good news is if they are receiving
unemployment benefits, they will qualify for a no cost silver plan. A lot of these individuals are your clients, and you can help them. If you do help them many of them will send you multiple referrals.  Expansion of subsidies above 400% of the FPL: Many of us have dealt with individuals over the past several years whose income was just above the previous 400% FPL subsidy limit. Because of this fact they were required to pay full price for their health insurance. Sometimes these premiums could be thousands of dollars. In the past there was nothing you could do to help. However, with the expansion of Subsidy eligibility these individuals are now eligible for assistance with these premiums.  

Subsidy extended to those above 400% of the FPL: Subsidies have been extended to those of higher income. However, it does not have the effect many would think. The new rule only gives a subsidy for past 8.5% of the individuals income.  

  • Example: 50-year-old Male 80k income
  • Previously received: $0 Subsidy
  • Now Receives: $68.00 Subsidy

As you can see despite expanding the subsidy the customer would still be paying over a thousand dollars a month. Thus, it will not have an effect on Short Term Medical plan sales.

Do not let this opportunity pass you by. It is not many times you will be able to reach out to your clients and tell them you are going to give them better benefits at a lower price. 

Any questions on requirements and certifications please ask your manager or contact sales support in the home office. (772) 546 – 2299

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