HONOLULU (KHON2) — Insurance Commissioner Colin Hayashida is encouraging Hawaii residents to take advantage of new health insurance savings through the American Rescue Plan.
President Joe Biden recently announced the extension of a Special Enrollment Period (SEP) for Marketplace coverage until August 15.
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“The additional three months will give the public more time to assess their insurance needs as their financial situation evolves due to COVID-19,” Hayashida said. “It also gives them the opportunity to enroll in a plan that provides the coverage they need at a potentially lower cost.”
Hawaii residents who do not qualify for Medicaid coverage should still visit the Marketplace website to apply and enroll in a plan.
“The federal marketplace enrollment system is linked to Hawaii’s Medicaid enrollment system,” said Department of Human Services Director, Cathy Betts. “This enables applicants to find affordable health insurance, and if they are likely to be Medicaid eligible, Marketplace applications will automatically be referred to Medicaid for coverage.”
Current enrollees who wish to change plans in response to the availability of increased tax credits should submit an application update to receive an updated eligibility determination.
Consumers will save an average of $50 per person each month and $85 per policy each month.
About one out of four enrollees will be able to upgrade to a higher plan that offers better costs at the same or lower premium compared to what they’re paying today.