The Centers for Medicare & Medicaid Services extended the special enrollment period (SEP) launched February 15 for the federally facilitated marketplace in response to the COVID-19 public health emergency until August 15.
“This action will allow individuals and families more time to access the SEP and enroll in Marketplace coverage with the increased tax credits to reduce their premiums, and for current enrollees to change plans in response to the availability of increased tax credits if they wish to do so,” the agency said.
The American Rescue Plan Act recently passed by Congress made more people eligible for marketplace subsidies and increased the amount of the subsidies, including allowing those making between 100% and 150% of the federal poverty level and those receiving unemployment compensation in 2021 to pay no premium for certain Marketplace plans. The American Rescue Plan also eliminated the income cap on health insurance premium tax credits, allowing all individuals regardless of income to receive premium tax credits for premiums that exceed 8.5% of income. For more information on the SEP, see the agency’s updated guidance.