FAQ Sheet on American Rescue Plan Act of 2021 Lowers Health Coverage Costs for HealthSource RI Customers

The federal American Rescue Plan Act of 2021 (ARP) lowers health coverage premiums. For RI residents, the ARP reduces premiums for health coverage through HealthSource RI, creates additional assistance for persons who are unemployed, among many other types of assistance.

MONTHLY PREMIUM REDUCTIONS FOR HEALTHSOURCE RI CUSTOMERS IN 2021 AND 2022

How does the ARP help me to afford private health coverage?

The American Rescue Plan lowers health coverage premiums for customers of HealthSource RI by adding additional financial assistance.

I am a HealthSource RI customer and already get financial assistance that lowers my monthly bill. Will my monthly bill go down?

Yes. The American Rescue Plan will decrease your monthly bill so long as your income remains the same. If your income changes, your financial assistance may also change.

I did not qualify for financial help when I applied for 2021 coverage. Does the American Rescue Plan reduce my monthly bill?

Depending on how much your plan costs compared to your income, it may. The American Rescue Plan limits your monthly bill so you will not pay more than 8.5% of your Adjusted Gross Income (AGI) on premiums for the second-lowest-cost silver plan. For example, if you are a 30-year-old resident with an annual income of $45,000 and already pay the full monthly premium of $310/month for a second-lowest-cost silver plan, your premium will go down to $271/month.

The (ACA) provided financial help to people who had incomes up to 400% of Federal Poverty Level (FPL) -- $51,040 per year for an individual (or $104,800 per year for a family of 4). Having a higher income meant that you did not previously qualify for premium reductions under the ACA. The ARP makes it so that no one will pay more than 8.5% of their Adjusted Gross Income (AGI) income on for a second-lowest- cost silver plan premium through HealthSource RI.

I am in the U.S. on a visa and don’t qualify for coverage because of my visa status. Will my premiums for private health insurance go down?

Yes. Depending on your income, your monthly bill may decrease. The American Rescue Plan includes visa holders who don’t qualify for Medicaid coverage.

If I enroll in health coverage through HealthSource RI, how long will I receive this additional financial help to lower my monthly bill?

You will receive the increased ARP financial help throughout the remainder of 2021 and all of 2022 unless the federal government extends this timeline.

What if my income changes?

Your monthly bill is based on your income. If your income goes down, you may qualify for lower monthly coverage costs. If your income goes up, your monthly health coverage costs may also go up. However, you will not pay more than 8.5% of your Adjusted Gross Income (AGI) for a second-lowest-cost silver plan premium through HealthSource RI.

Do I have to enroll in a specific plan to receive financial assistance? No. You can enroll in any plan – bronze, silver, gold, or platinum – and the financial help you qualify for will be applied to the plan of your choice. Your monthly bill is determined by your income and family size. If you choose to enroll in a more expensive plan, your plan might cost more than 8.5% of income, but it also might have much lower out-of- pocket costs when you use medical services.

Will everyone’s monthly bill be reduced?

No. Not everyone will qualify for additional financial help because your monthly bill is based on your income and family size. Because RI’s premiums are already among some of the lowest in the country, some people already pay less than 8.5% of their income on premiums.

I qualify for financial help, but I chose to pay my full monthly premium instead. Can I claim this increase in financial assistance during tax time when I file my taxes?

Yes. You can claim the increased amount of financial assistance when you file your taxes. When you do that, each month you pay full price for premiums. You may also choose to take a portion of the tax credit/financial help now and take the rest when you file taxes.

When will this new benefit be available to HealthSource RI customers?

HealthSource RI is updating our systems and will be reviewing all customer accounts. We will be sending notices and emails to customers, with more details about their account changes. This new benefit will be available to customers who already receive assistance starting in April 2021. The additional assistance to unemployed Rhode Islanders and those who were not previously eligible for financial assistance will be coming soon.

I am currently enrolled in a health plan through HealthSource RI and pay full price for my premiums. What do I have to do to get financial help?

HealthSource RI is updating our systems and will be reviewing all customer accounts. We will be sending notices and emails to customers, with more details about their account changes. In the meantime, make sure your income and other account information is up to date. If you did not apply for financial assistance at all, but you want to now, you should do so. You can contact us at 1-855-840-4774 for more help.

I am currently enrolled with HealthSource RI and receive financial help. What do I have to do to lower my monthly bill?

Nothing. HealthSource RI is updating our systems and will be reviewing all customer accounts. We will be sending notices and emails to customers, with more details about their account changes. Based on your current account information, you may see additional financial help reflected in your May invoice from HealthSource RI, sent in early April. Because ARP makes these changes retroactive to January 1, 2021, you may receive additional assistance during the rest of 2021 if you’ve been covered since January 2021. If you have already paid for April before we make an adjustment to increase your assistance for April, any credit will be applied to your next bill.

I am currently not enrolled in coverage through HealthSource RI. What should I do to enroll in coverage and get financial help?

HealthSource RI is the only place you can get financial help to pay for high-quality health coverage. Visit HealthSourceRI.com/Calculator to compare plans or call us at 1-855-840- 4774. Our customer service team is available Monday – Friday, 8am – 6pm.

Examples of How the American Rescue Plan Will Lower Monthly Bills for Residents

Examples based on 2021 premium for the second lowest cost silver plan on HSRI

Monthly Premiums for a 30-year-old FPL % Annual Income ACA American Rescue Plan 140% $ 18,000.00 $52.90 $0.19 233% $ 30,000.00 $192.98 $83.11 349% $ 45,000.00 $310.22 $271.48 466% $ 60,000.00 $310.22 $310.221

Monthly Premiums for a 45-year-old Annual Income ACA American Rescue Plan 140% $ 18,000.00 $52.93 $0.24 233% $ 30,000.00 $193.03 $83.16 349% $ 45,000.00 $368.86 $271.53 466% $ 60,000.00 $394.67 $394.671

Monthly Premiums for a 60-year-old Annual Income ACA American Rescue Plan 140% $ 18,000.00 $53.14 $0.44 233% $ 30,000.00 $193.24 $83.36 349% $ 45,000.00 $369.07 $271.44 466% $ 60,000.00 $741.78 $425.44

1 No premium reduction because the cost of coverage is lower than the 8.5% of income affordability protection.

I’ve been laid off. What are my options for affordable or no-cost health coverage?

HealthSource RI is the only place you can get financial help to pay for high-quality health coverage. If you qualify for no-cost coverage through Medicaid, our dedicated customer service team can help you enroll. Visit HealthSourceRI.com/Calculator to compare plans or call us at 1-855-840-4774. Our customer service team is available Monday – Friday, 8am – 6pm.

Do I qualify for additional assistance if I received unemployment in 2021?

Yes. You qualify for additional assistance if you received unemployment at any time in 2021. All types of unemployment compensation qualify. This includes Regular Unemployment Compensation, Pandemic Emergency Unemployment Compensation (PEUC), Extended Unemployment Compensation, and Pandemic Unemployment Assistance. HealthSource RI is updating our systems and will be reviewing all customer accounts. The changes related to unemployment will be implemented over the coming months. We will be sending notices and emails to customers, with more details about their account changes. You can call us at 1-855-840-4774 for more information.

Do I qualify for financial help if I am eligible for other coverage such as Medicaid, , or employer-sponsored coverage?

No. You do not qualify for financial help to lower your monthly bill if you are eligible for other coverage such as Medicaid, Medicare, or employer-sponsored coverage.