ACA expansion to boost subsidies for most of 63,000 Mainers with coverage
The average monthly premium reduction is $50, but some could see hundreds of dollars in savings on their health insurance each month.
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The American Rescue Plan signed into law by President Biden last week will pump $34 billion into the Affordable Care Act, reducing monthly premium costs for most of Maine’s 63,000 people with ACA marketplace insurance.
The savings on average are about $50 per month but could reach into the hundreds depending on income level, what plan is chosen and other factors.
Mainers can sign up for the plans now, and starting on April 1 at healthcare.gov they can see the impacts of the new subsidies on monthly premiums. Those with existing plans who re-enroll now in the same plan will get the enhanced subsidies and lower premiums in the next month. Enrollment continues through May 15.