Costs lowered to buy Marketplace health coverage
HOUSTON - The cost to buy health insurance on the Healthcare Marketplace has now dropped for millions of uninsured Texans through President Biden's American Rescue Plan. The White House wants to make sure families take advantage of it.
4.5 million Texans do not have health insurance and often can't see a doctor when they need to. Now, many of them are eligible for lower cost health insurance through the marketplace, with some plans for individuals as low as $10 a month.
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The American Rescue Plan reduces insurance premiums on the healthcare marketplace and makes more people eligible for coverage.
"We're finding four out of five individuals are finding health insurance plans as low as $10 a month or less. And for a family of four that might have had premiums of $400, they're finding premiums for as low as $163 a month for quality health insurance," said Dr. LaShawn McIver, Director of the Office of Minority Health.
The premium reductions will helps families with higher incomes, too. Couples earning over $70,000 could save more than $1,000 per month on their monthly premium. A family of four making $90,000 could see their premiums decrease by $200 per month.
While the savings are for everyone who qualifies, they are expected to help reduce disparities among some minority populations. The White House says 730,000 uninsured Latinos and 360,000 uninsured Black and African Americans will be newly eligible for the savings.
"We know that having access to health insurance is critically important to one's health and well being, so this is an important opportunity for anyone who might be uninsured," said Dr. McIver.
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You can apply now through August 15. Coverage begins the first day of the month following registration.
"If you sign up today, your coverage would start June 1, and that's just a few short days away," said Dr. McIver.
Applicants can go to Healthcare.gov or call (800) 318-2596.
People who lost a job may qualify for free COBRA coverage, which continues their existing health plan, through September.