Good news! New Savings & Expanded Health Coverage Access is now available through
Get Covered New Jersey
New Federal and State Savings
The federal government passed a COVID-19 relief bill, the American Rescue Plan Act of 2021, which was signed into law by President Biden on March 11, 2021. The new law reduces health insurance premiums by providing more financial help to eligible consumers who purchase a plan through Get Covered New Jersey. The State of New Jersey is also providing more financial help to lower health insurance costs for residents enrolling at Get Covered New Jersey.
More people than ever now qualify for financial help. If you did not qualify for financial help before because your income was too high, you may qualify under the state and federal changes. These new changes make coverage more affordable at many income levels.
During the COVID-19 pandemic, the State of New Jersey has remained focused on improving residents’ access to quality, affordable health insurance. The financial help available through this relief bill and the State of New Jersey builds on the state’s efforts to provide access to health coverage for more New Jerseyans.
To ensure that as many residents as possible could benefit from the new financial help, the State of New Jersey extended the health insurance enrollment window through the end of 2021. The new financial help remains available for 2022. Open Enrollment is November 1st through January 31st, and is the only time of year to enroll in a plan unless you have a qualifying life event that qualifies you for a Special Enrollment Period.
Here are more details on what you can expect from the new federal and state savings:
- Increases in financial help for all eligible consumers. The amount of financial help is based on household income just like before, but has increased at every income level due to more financial help provided by both the state and federal government.
- New financial help for higher incomes. Previously, financial help was not available for households making more than $51,040 for an individual or $104,800 for a family of four. The new federal law ensures that no family spends more than 8.5% of their income on health insurance premiums - at any income. This means many individuals who previously did not qualify for financial help from the federal government may now see more affordable premiums. On top of the federal financial help, the State of New Jersey has also increased financial help to higher incomes, to further lower premiums.
Expanded Health Coverage Access
As part of its goal to advance health equity, New Jersey introduced a new Special Enrollment Period (SEP), the Expanded Access Special Enrollment Period, in 2022 that allows consumers at a certain income level to enroll throughout the year in free or nearly free coverage. Consumers with an annual income up to 200% of the Federal Poverty Level ($25,760 for an individual or $53,000 for a family of four) can now qualify for a Special Enrollment Period to enroll any time of the year with access to plans with low or no monthly premium.
Consumers who qualify for this SEP will automatically be identified when they submit their application for coverage, and can begin shopping by clicking on the “Shop for Plans” button after submitting the application. Residents who are eligible should enroll as soon as possible to gain coverage and receive maximum value out of annual benefits like deductibles and maximum out-of-pocket limits.
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