Health coverage available almost free of charge
Biden signs COVID-19 relief package; includes dunning checks
President Joe Biden signed the US bailout, the $ 1.9 trillion COVID-19 relief plan that includes $ 1,400 stimulus checks.
Associated Press, USA TODAY
New Jersey residents who receive unemployment compensation for as little as a week this year can get health insurance at virtually no cost, thanks to funding provided by the American Rescue Plan.
The $ 1.9 trillion COVID relief measure, passed by Congress and signed by President Joe Biden on March 11, provides grants that lower premiums for the unemployed to less than a dollar a month.
To be eligible, beneficiaries must not have other options for affordable health coverage and purchase a plan through the state’s online marketplace, Get Covered New Jersey.
More than 21,400 New Jersey residents who received unemployment benefits this year took advantage of premium relief as of June 10, according to the State Department of Banking and Insurance.
Many more are likely to benefit from assistance. The Department of Insurance works with the Department of Labor to reach eligible people.
“We don’t want anyone to miss the opportunity to have coverage, which is more affordable than ever because of the savings from the US bailout and new and expanded state financial assistance,” Marlene said. Caride, State Commissioner for Banks and Insurance.
The massive economic stimulus contained in the US bailout funded the biggest expansion of the Affordable Care Act, or Obamacare, since it was passed in 2010. Last month, the US Supreme Court upheld the Affordable Care Act against his last legal challenge.
Additional financial assistance, along with an extension of New Jersey’s open enrollment period until the end of the year for insurance coverage, resulted in the enrollment of an additional 37,000 people this year. Almost 270,000 people had registered before the extension of the membership period.
Related: GetCoveredNJ Health Coverage Purchase Deadline Extended, Says Phil Murphy
Stimulus: Biden’s COVID stimulus plan increases health coverage by more than 100,000 in New Jersey
New Jersey’s unemployment rate stood at 7.2% in May, slightly above the national average but improving from 7.5% in April. The number of unemployed was estimated at 320,000.
âWe want residents to know that registration remains open at Get Covered New Jersey for those who still need health insurance,â Gov. Phil Murphy said last week.
New Jersey this year set up its own state market for the sale of health plans under the Affordable Care Act. New Jersey state law requires almost all residents to have health insurance or pay a penalty.
Health insurance subsidies for the unemployed are available until the end of 2021. They start on the first day of the month after a client has registered.
To be eligible, you must not have other affordable health coverage offers from an employer, spousal employer, Medicaid, or Medicare. You must have received unemployment benefit or have been authorized to receive it for at least one week in 2021.
Apply to the state’s official online insurance marketplace – Get Covered New Jersey – and answer the unemployment question. Grants cannot be used for plans purchased directly from a health insurer.
A separate federal program pays the full premium for COBRA coverage, which extends employer health insurance after an employee has been made redundant. The American Rescue Plan provides premium payments for some COBRA beneficiaries for six months this year, from April through September. Information on this is available at https://www.dol.gov/agencies/ebsa/laws-and-regulations/laws/cobra/premium-subsidy.
Dozens of plans are available on GetCoveredNJ.gov in three levels of coverage: Bronze, Silver, and Gold. Grants for the unemployed are calculated to reduce the cost of a âreferral planâ in the silver tier to less than a dollar a month. Silver plans cover around 70% of healthcare costs. Consumers can also choose a Bronze plan, which covers around 60% of healthcare costs, or a Gold plan, which covers 80%.
Four companies – AmeriHealth, Horizon Healthcare Services, Oscar Health Insurance, and Oxford Health Insurance – offer Silver plans. All available Silver plans are based on provider networks with no ability to use off-grid providers, except in emergencies. Some of them have high deductibles.
More information and a registration guide can be found on the Get Covered New Jersey website at: https://nj.gov/getcoverednj/findanswers/covid19/
Lindy Washburn is a senior health care reporter for NorthJersey.com. To stay abreast of the impact of changes in the medical world on you and your family’s health, please register or activate your digital account today.
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