Rescue Plan Offers Kentucky Residents Low-Cost Health Insurance Options

The deadline is nearing for uninsured Kentuckians eligible for reduced-cost health care coverage to apply under the American Rescue Plan Act of 2021.

To take advantage of reduced - and no-cost plans, eligible Kentuckians - both uninsured and current enrollees - must be properly enrolled through the health insurance marketplace at healthcare.gov.

Through Aug. 15, more than 35,000 uninsured Kentuckians with incomes greater than 400 percent of the federal poverty level can sign up for a recently launched health insurance marketplace subsidy.

Uninsured Kentuckians with incomes between 150 and 400 percent of the federal poverty level potentially qualify for additional financial support to reduce out-of-pocket costs for Marketplace premiums.

Furthermore, through Aug. 15, 7,100 uninsured Kentuckians with incomes below 150 percent of the federal poverty level can sign up for free health insurance coverage.

Although savings will vary on an individual basis, premiums will decrease on average by $50 per person per month or by $85 per policy per month.

The Biden administration introduced the special enrollment period through the federal marketplace from Feb. 15 to Aug. 15, 2021, for people who needed health care coverage during the pandemic.

More than 1 million people have signed up for marketplace coverage through healthcare.gov since the beginning of the special enrollment period.

"Following the passage of the ARP, tens of thousands of our families can receive additional financial support to find the coverage that best meets their needs at a price they can afford," Cabinet for Health and Family Services Secretary Eric Friedlander said.

Four of five enrollees will be able to find a plan for $10 or less per month after premium tax credits and over half will be able to find a Silver plan with a zero-dollar premium, state officials said.

While the 2021 special enrollment period is available through Aug. 15, current enrollees can decide if they may want to change to a new plan for the rest of the year.

Assistance is available through Kentucky licensed insurance agents and kynectors registered on the insurance marketplace. Those with current plans simply need to reselect their plans for the changes to take effect and for their premiums to be reduced.

For more information, go to healthcare.gov.