If you received unemployment benefits any time in 2021, you could be eligible for free or low-cost health insurance. Even if you’re working currently or recently landed a job, you qualify. Here’s what you need to know.
This new freebie was authorized under the $1.9 trillion American Rescue Act signed by Biden in view of the coronavirus chaos. The government’s newest offer of financial aid, in the form of zero-premium health plans with no deductibles or copayment, extends to all individuals who collected at least a week of unemployment benefits during 2021. August 15 is the deadline for this special Obamacare (or Affordable Care Act) enrollment period.
Some economists and insurance experts explain that you could save upwards of $7000 in premium dollars when you receive unemployment and begin enrollment in Obamacare this year, regardless of your income. But you would still have to make copayments of around $5 along with low deductibles.
It’s estimated that over a million people who have been unemployed this year will be willing and able to get generous or free health coverage through Obamacare. The free coverage aims to help those in desperate need of finances due to job losses and a lack of income generation due to the COVID-19 situation.
While the insurance subsidy is supposed to last only through 2021, many hope that the surge of Obamacare users will extend the benefit until the end of 2022.
This news could ease your mind if you, as an employer, are struggling to decide whether to continue business or to lay off employees. Knowing your team will be protected even when you have no choice but to let them go is an added advantage of free health insurance coverage.
You can also learn about offering health insurance benefits and covering the cost of premium healthcare for your employees, while they’re working for you. Just visit NY Small Health today or contact one of their insurance professionals and discover your options.
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