Most of us choose to insure our health because it is one of our most precious assets and we have no idea what the future holds. Those enjoying the RV Lifestyle have unique needs for insuring their health. Affordability and portability are key. How well does the American Rescue Plan meet these needs, and should RVers even be considering it at all?
Health Insurance for RVers
We tend to take better care of ourselves if we insure our health. Financial assistance at the time of an accident or illness paid by your insurance company helps cover the cost of doctor visits, imaging, and urgent care and encourages us to seek care more often for wellness exams.
Health Insurance is not one size fits all. There are many available options when choosing an insurance company to share the cost of taking care of your health, and those options can be confusing.
After an election year there are usually changes to laws and legislation that will impact us. 2021 is one of those years.
What Is The American Rescue Plan?
The American Rescue Plan, or Act, offers temporary changes to health insurance due to the COVID pandemic. You do not have to be diagnosed with COVID to qualify for benefits. If you are already on Medicare, the 2021 American Rescue Plan does not change anything for you, however it may benefit family members not on Medicare.
The American Rescue Plan reduces the cost of your health insurance, and in some cases, out of pocket expenses. Enrollment began April 1st and lasts through August 15th. Bear in mind this is a temporary solution. Before you throw out your existing plans or cancel your annual renewal, have a health insurance professional advise you.
RVers Under 65 Years
Through tax credits, also known as subsidies, people under age 65 are able to obtain affordable health insurance. The Federal Government has recently made changes to how health insurance is offered. For some, the cost can be significantly reduced or even zero.
If you are under age 65 and not on Medicare or Medicare disability you may qualify now to purchase health insurance for a significantly reduced amount, often as low as zero dollars.
The best way to find out what health insurance will cost RVers under the age of 65 is to get a free quote. Because of the changes to the Affordable Care Act, those age 60 to 65 benefit the most due to the recalculations for tax credits to purchase health insurance.
This is possible through a “Special Election Period” under the recently passed American Rescue Plan Act also known as the ARP.
American Rescue Plan Does Not Require Qualifying Event
You do not need a qualifying event to make changes to your current ACA health benefits or to enroll in an Affordable Care Act plan for the first time during the American Rescue Plan enrollment period.
The benefit changes listed below became active April 1, 2021 and end on August 15th.
- The American Rescue Plan is a new law passed to lower health insurance premiums for most people currently on an Affordable Care Act Plan (ACA), and to make it more accessible to those who have not enrolled in the past.
- If you are currently enrolled in an “Off Exchange Plan” (not receiving a tax credit or subsidy), then you may now qualify for a tax credit. Please contact us to determine if you are eligible.
- If one member of your household received unemployment compensation for at least one full week in 2021, the entire family is eligible for reduced premium based on age. That premium can be as low as a zero-dollar premium. Documentation of unemployment benefits will need to be provided at some point to maintain the benefits applied for.
- If you are already on a Marketplace plan you may qualify to lower your premiums. High income wage earners may qualify for a tax credit under the changes.
- If you are a business owner offering health insurance to your employees you may have an opportunity to increase your employees benefits and reduce your cost.
Conclusion
We know RVers are going to have many questions, especially since ACA plans are HMO or EPO plans and are known for not being RVer friendly. Our health insurance agents have solutions in place that provide affordability coupled with mobility.
The role of an insurance agent is to share their knowledge and assist you in finding the health benefits that will provide you peace of mind affordably. The services of a health insurance agent are at no cost to you. Insurance companies pay them to be your advocate and customer service representative once your policy is in place.
About The Author
Coleen Elkins is the Managing General Agent at RV Insurance Benefits . She is a long time insurance industry professional and an RVer.
