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Preferred Health Insurance Solutions Provides Tips to Assist Consumers Take Advantage of the American Rescue Plan Act Which Goes into Effect April 1, 2021 | News

Last Updated on March 21, 2021 by admin

BEDFORD PARK, Ill., March 21, 2021 /PRNewswire-PRWeb/ — “President Biden signed the American Rescue Plan Act of 2021(ARPA) into law on March 11, 2021. The ARPA may improve health insurance coverage access and affordability through the Affordable Care Act (ACA) Marketplace by increasing eligibility for financial assistance to help pay for the coverage,” according to Robert Dial, vice president, Preferred Health Insurance Solutions, formally known as ACA Marketplace Enrollment Solutions (

“People need to act now to access the ARPA’s full benefits,” Dial added. “The Special Enrollment Period (SEP) ends on May 15. Preferred Health Insurance Solutions’ certified insurance agents can assist those enrolling in the Marketplace for the first time and help those already enrolled to update their plan.”

Dial provides tips outlining key points of the new ARPA and how it may help lower Marketplace coverage cost through

Tip 1: Understanding the ARPA and how it may help lower costs and expand access to

Before the ARPA, a household had to contribute up to 9.83% of their income to pay for health insurance premiums to be eligible for tax credits based on the cost of the benchmark ACA Marketplace plan. Households with incomes greater than 400% federal poverty level were not eligible for tax credits to help reduce the cost of purchasing an ACA Marketplace plan.

Under the new ARPA, individuals and families 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 a benchmark plan (Silver) or a less expensive plan. As a result, many consumers will be eligible for higher tax credit amounts to help cover their ACA Marketplace health plan premiums.

Dial explained, “When consumers enroll in the ARPA, they can choose a plan that is the same, costs more or costs less than the benchmark plan. The 8.5% cap is used to calculate this increase in premium tax credit amounts, but the cost of the plan a consumer chooses to enroll in may be higher or lower than the benchmark plan. A Preferred Health Insurance Solutions agent can help an individual calculate the new tax credit and help compare plans. This will ensure an individual’s health plan truly fits their individual or family’s healthcare needs.”

Tip 2: All Americans need to act before the Special Enrollment Period ends in order to save money for the duration of 2021

In order to save for the duration of 2021, even current ACA Marketplace plan enrollees, need to act and reapply before the SEP ends.

Dial added, “It is critical consumers realize that in order to take advantage of the ARPA, current enrollees, including those who recently enrolled through the 2021 SEP, will need to update their application to get new eligibility results starting April 1. Individuals have to be careful if changing their plan, as any part of the out of pocket deductible that was used during year 2021, may not carry over to the new plan. Preferred Health Insurance Solutions knowledgeable agents can help address any concerns the insured may have.”

Consumers who need coverage starting April 1 should still apply and select a plan by the end of March through the SEP so coverage can start April 1. Then to get the added benefits of the ARPA, they must return to, and reselect the plan to have the increased tax credits applied to their coverage for May 1 and the duration of 2021.

Tip 3: Understanding key dates and deadlines

Feb. 15, 2021-May 15th: 2021 SEP is underway and provides an opportunity for individuals to secure a 2021 ACA Marketplace plan.

March 11: President Biden signs into law the ARPA which goes into effect April 1, 2021.

March 11, 2021-April 2021: In order to receive the ARPA tax credit effective April 1st, individuals need to secure an ACA Marketplace plan before the end of March.

After April 1st and before the end of the SEP, May 15, 2021: Individuals who currently have an ACA Marketplace plan need to update their application and reapply under the ARPA. Individuals who do not have an ACA Marketplace plan can sign up for one under the ARPA in order to take advantage of expanded access to financial assistance.

Dial concluded, “Preferred Health Insurance Solutions has been assisting individuals enroll in the Federal Marketplace for the past seven years. Our team of multilingual, licensed health insurance agents can help calculate an individual’s eligibility for additional tax credits established under the ARPA. They can also help determine if an individual can expand their current health coverages.”

The Preferred Health Insurance Solutions Call Center will be available to assist consumers enrolling for their 2021 health plan. Consumers can call the PHIS Call Center at 800-342-0631 or access the company’s website at

About Preferred Health Insurance Solutions    

Headquartered in Bedford Park, Illinois, Preferred Health Insurance Solutions (PHIS) is a national enrollment firm specializing in the Health Insurance Marketplace as well as a variety of other health insurance products including: Dental Plus Vision and Hearing, Critical Illness; Short Term Major Medical; and others. PHIS, formerly known as ACA Marketplace Enrollment Solutions ( provides enrollment services throughout the country, through national and regional insurance carriers. Consumers can call the PHIS Call Center at 800-342-0631 or access the company’s website at

Media Contact

Bob Dial, Preferred Health Insurance Solutions, 708-475-6051, [email protected]

SOURCE Preferred Health Insurance Solutions

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