State and local officials urged Bay Area residents Wednesday to sign up for health insurance coverage through the state’s health insurance marketplace by Friday to benefit from lower premiums.
More than 450,000 residents across the Bay Area, including more than 103,000 who are uninsured, are eligible for lower health care premiums if they sign up for insurance through Covered California by the end of the week, according to state officials.
The reduced costs are the result of federal tax credits included in the American Rescue Plan, the pandemic relief package Congress passed last month.
“I think this is a golden opportunity to take advantage of additional subsidies that the Rescue Plan will include but also some subsidies the state of California has invested in,” La Clinica de La Raza CEO Jane Garcia said Wednesday in a virtual briefing. “I think this is a golden opportunity to get covered and to catch up.”
The tax credits in the relief package are also expected to lower premiums by an average of $180 per month for roughly 280,000 Bay Area residents who already get insurance through Covered California, which the state formed under the Affordable Care Act, former President Barack Obama’s health care law.
Those savings will automatically be applied to existing customers’ accounts, according to Covered California officials.
State officials expect the tax credits will save state residents more than $3 billion in total through the end of 2022, when they are set to expire.
“The new and expanded financial help provided by the American Rescue Plan can help people throughout the Bay Area get covered and stay covered by lowering their premiums and putting money back into their pockets,” Covered California executive director Peter Lee said in a statement. “The American Rescue Plan provides the most significant consumer cost savings since the Affordable Care Act began, but in order for many people to make the most of that savings, they need to act before the month ends.”
Residents can visit coveredca.com or contact Covered California at 800.300.1506 for information on signing up for health care coverage.