The American Rescue Plan

President Biden signed the American Rescue Plan Act of 2021(ARP) into law on March 11, 2021. ARP makes improvements in access to and affordability of health insurance through the Marketplace by increasing eligibility for financial assistance to pay for Marketplace coverage.
 
and more good news…..
 

ARP Overview

  • The new law will lower premiums for most people who currently have a Marketplace health plan and expand access to financial assistance for more consumers.
  • The enhanced tax credit is available beginning on April 1. Financial assistance is retroactive to January 1 via 2021 tax filing reconciliation for individuals and families that received their health insurance through the Marketplace. 
  • Premiums after these new savings will decrease on average by $50 per person per month, or by $85 per policy per month. 

Current Marketplace Enrollees

  • If a current enrollee chooses not to update their Marketplace account, the increased tax credit will be reconciled with the 2021 income tax return filing in 2022.  You need do nothing and you will receive your additional tax credit in a lump sum after filing.
  • Current enrollees may also change their 2021 plan but must do so by August 15, the 2021 Special Enrollment Period end date. IMPORTANT: current enrollees can choose a new plan, but it is not always the best course of action. When you change plans, the amount you paid towards meeting your prior plan’s deductible can be reset to zero and you would need to start paying out of pocket expenses to reach the deductible on the new plan. 
  • To take advantage of new tax credits, existing enrollees must opt to apply the new subsidy. If you prefer to do it yourself, you can log in to your “healthsherpa” account and see if you have a message indicating you qualify for additional subsidy. If you do, simply select the big green button: “Apply the new subsidy”. If you do not have a message indicating you qualify for a new subsidy, run through your application anyway; not everyone who was eligible received a message.
  • If you would like us to apply your new subsidy to your existing policy, simply reply to info@dublinhealth.net. Include the name of the primary insured and a request to “Apply the new subsidy to my existing policy”. We will update your tax credit and you will be notified via email of the savings. You can also contact our office at 603-563-8820 and we will let you know if you are eligible for additional savings.
  • If you would like to review the option to change coverage, reply to info@dublinhealth.net. Include the name of the primary insured and a request to “apply new subsidy and review changing plans”. Our office will contact you to schedule a time to review your options.

Enrollees Outside of the Marketplace or Otherwise Not Tax Credit Eligible

  • Prior to the American Rescue Plan, households had to contribute up to 9.83% of their income, based on a benchmark health plan, to pay for health insurance premium to be eligible for tax credits. Households with income greater than 400% of the Federal Poverty Level weren’t eligible for any assistance to reduce the cost of purchasing a health insurance plan. 
  • Under the American Rescue Plan, individuals and families with income greater than 400% of the Federal Poverty Level may be eligible for a temporary increase in premium tax credits for this year, with no one paying more than 8.5% of their household income towards the cost of the benchmark plan or a less expensive plan. 

Contact our office at 603-563-8820 prior to August 15, with your projected Modified Adjusted Gross Income for 2021 and we can help evaluate if you are now eligible for a tax credit to reduce the cost of your health plan and if it makes sense to change to a Marketplace plan.

Adding Low Cost, High-Value Insurance during Pandemic

Adding Low-cost, High-value Benefits during Pandemic

 

If you are an employer who has been impacted by staffing and payroll challenges during this COVID-19 Pandemic crisis, you’re not alone. A large majority of NH businesses anticipate a significant decrease in revenue resulting from state shut-down mandates, classification of essential vs. non-essential workplaces, and quarantine related staffing challenges. It’s no wonder groups are now looking at adding low-cost, high-value benefits during pandemic times.

Low-cost, High-value Benefits

Low-cost, High-value Benefits like ancillary benefits ( Life Insurance / Accidental Death & Dismemberment Insurance, Short-term / Long-term disability insurance) provide great financial security to employees concerned over unplanned medical events. An employee who is out is going to juggle not only their medical recovery needs, but also the priority of paying their bills. This raises the question for employers, how will they continue paying their share of health insurance?

When Life Insurance / Accidental Death & Dismemberment Insurance, Short-term / Long-term disability insurance are offered, it is very simple to include a voluntary critical illness or accident insurance policy which is paid for 100% by the employee. Because who isn’t worried about accidents and cancer devastating our very comfortable and familiar lifestyle? And if you offered these benefits now, just think about the relief any employee will have when a medical leave is inevitable.

Quarantine Benefit Rider

Groups with a Quarantine Benefit Rider embedded in their Short-term disability policy, brings an added financial benefit to employees, particularly right now. Should an employee be required to “quarantine” without illness, the Quarantine Benefit Rider act like a short-term disability policy and will continue 60% of their pay. While certain terms will apply, the rider protects the employee from severe financial disruption while helping the employer keep their workplace healthy and productive. I should add that this rider is no longer offered with NEW quotes from Guardian but the carrier will honor the proposals dated shortly prior to the events of COVID-19 for a brief period of time.

Not only are we independent, bringing you access to quotes from ALL carriers, but we specialize in benefits portfolio designing!

We, at Dublin Health & Benefit Group, LLc, offer a comprehensive approach to benefits portfolio designing, tailored specifically to the unique needs of each employer group. Often a new group will begin with just what they came for, a group health plan. But as we learn about the group and start to see cost saving options that will bring added value, we will bring it whether the solution is offered through us, a vendor or partner. Our partners work closely with us and our group clients on customized benefits portfolio designs!

Dublin Health & Benefit Group LLc has offered Group, Individual, and Medicare insurance throughout New Hampshire since 2005. With over 30 years of experience, our friendly Employee Benefit Brokers will treat your employees like family. We truly act like an HR-benefits branch for each of our group clients as designed, making ourselves very approachable by employees at all levels.

 

Quote your group with Dublin Health & Benefit Group, LLc and receive a FREE trial to our outsourced HR solutions!

  • Rebuild your handbook
  • Tap into workplace compliance resources
  • Complete free professional development and compliance training e-learning course
  • Seek HR advising for your most complex HR/employee management workplace

Extended subscription may also include OSHA 10 hour general industry training courses, workplace safety courses, equipment safety courses …and more!

Companies with 15+ employees may subscribe to our Employee Onboarding tools, offering a secure workplace portal to manage employee onboarding, digital employee files, and a time-off management calendar.

If you’re interested in quotes to add low-cost, high-value benefits for your team,

Call Dublin Health & Benefit Group, LLc today for a group quote!

Individual Insurance * Medicare * Group Insurance

603-563-8820 x104

 

 

 

 

 

 

 

 

Help, I Need Health Insurance!

Is it too late to enroll for 2019?

While we enrolled most of our clients on Healthcare.gov during the annual Open Enrollment period (November 1st-December 15), we continue to enroll new clients on a year-round basis on the individual marketplace, www.Healthcare.gov. The criteria for enrollment outside Open Enrollment, however, does require an individual qualify for a Special Enrollment Period (“SEP”).

A SEP is created through a life change, which may include “losing health coverage, moving, getting married, having a baby, or adopting a child” (Healthcare.gov/glossary/special-enrollment-period/). Usually, there is a 60-day window following a life change event to enroll in a plan. If you miss that window, you must wait until the next Open Enrollment Period (November 1-Dec 15 for a January 1st plan the following year).

Other than those life changes listed above, there are additional life changes that could create a SEP:
• Turning 26
• Becoming pregnant
• Change in disability status, tax filing status, immigration status/citizenship
• Incarceration/release from incarceration
• Someone in your household losing coverage or becoming eligible for Medicaid
• Someone in your household getting an offer of job-based insurance

*There are other opportunities for SEPs not listed here.

Should you need insurance anytime the most important advice we can give you, is to call us immediately to go over options because some options available today may not be available tomorrow if you miss the SEP window of opportunity.

The team at Dublin Health & Benefit Group, LLc specializes in Individual, Group, and Medicare Insurance options from all major carriers in the state of New Hampshire.

Please schedule to discuss your circumstances with one of our team members today!
603-563-8820
info@dublinhealth.net

Individuals * Medicare * Groups