The American Rescue Plan (ARP) savings will carry over for 2022 coverage. However, for some customers, the amount of subsidies available each month may decrease in 2022. These reasons include:
Reason #1 It is common for plans and premiums to fluctuate each year. We highly recommend that every Pennie customer review their coverage options to either confirm they are still in the best plan for their household budget and health needs or shop around if there is a plan that is a better fit. This is also a good time to review the household information included in your Pennie application to ensure it is up-to-date and you are receiving the correct eligibility. Pennie is here to help anyone in need of assistance or who has questions about the application, renewal, or plan shopping process.
Reason #2 If you are someone who was eligible for unemployment insurance in 2021, then you have probably been receiving the maximum amount of financial assistance due to the American Rescue Plan. This provision expires at the end of 2021 so while you may still be eligible for savings through the American Rescue Plan, the amount of savings may be less this year.
Reason #3 If you were enrolled in coverage through Pennie between January 1, 2021 and May 31, 2021 and were eligible for financial assistance, you might see a decrease in your monthly APTC amount for 2022, even though the amount of APTC available throughout the entire year is the same as it was in 2021. In 2021, Pennie applied the full amount of additional benefits available under ARP over a seven-month period starting in June. We took this approach to make sure Pennie customers were able to take full advantage of the financial benefits of the American Rescue Plan as soon as possible. For those eligible for expanded ARP benefits in 2022, you will see these benefits spread out across the entire 12 months rather than seven months.
Pennie is committed to ensuring that every customer receives the full amount of financial assistance they are eligible. Pennie encourages all customers to take advantage of the 2022 Open Enrollment Period to shop and compare plans.