ACA Open Enrollment: Financial Help is Likely Available For You
Open Enrollment for Affordable Care Act (ACA) Marketplace health coverage is now. Nov. 1 to Jan. 15 marks the period each year when individuals and families can enroll in a health plan or change to a different one.
This is the time to think about your health needs and pick a plan that works for those needs – and your budget. Did you know? You have options for making healthcare more affordable for you.
Financial help is available!
- 9 out of 10 Arizonans qualify for financial help toward their plan.
- 4 out of 5 Arizonans are eligible for a $10 or less monthly premium.
- You may even be eligible for a $0 monthly premium plan.
Do you qualify for financial help from the government?
Most likely yes! Subsidies are given to individuals and families based on their household income and family size. Even if you think you may not be eligible, you may be. For example, a household of two people can get financial assistance if their income is between $28,207 and $81,760.
What is a health insurance subsidy?
Subsidies are financial assistance provided by the government to help eligible individuals and families afford their health insurance coverage.
What types of subsidies are there?
There are two types of subsidies that can lower your overall cost of health insurance:
- Premium tax credit: helps pay for all or part of your premium depending on your household income. A premium is the amount you pay to keep your health plan active each month.
- Cost-share reduction: a discount on your out-of-pocket costs like deductibles, copayments, and coinsurance. To be eligible for cost-sharing reductions, you must choose a Silver-level plan on the ACA Marketplace and meet specific income requirements. If you don’t know what a Silver plan is, learn more here.
Even if you didn’t qualify previously – you may now!
The American Rescue Plan increased the subsidies for ACA health plans and made more people eligible. These expanded subsidies are in place through 2025. It's important to check each year, as subsidy amounts can change annually.
How will you know if you qualify?
You can get an estimate of how much you may qualify for in subsidies before you even fill out an application. You may be eligible for additional savings once the application is submitted.
Sign up soon
Again, Arizona’s Open Enrollment period to sign up for ACA Marketplace individual and family health plans began on Nov. 1 and lasts through Jan. 15. This applies whether you enroll through the Marketplace at www.Healthcare.gov or directly with an insurer like AZ Blue. BUT – if you want your coverage to begin on Jan. 1, you must enroll by Dec. 15.
Open Enrollment can be confusing! We’re here to make it easier: Avoid These 3 Common Open Enrollment Mistakes.