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The American Rescue Plan, issued by President Biden, is primed to help Americans get back on track with their health and finances after the damaging effects of the pandemic and economic shutdowns. This new plan began on April 1, 2021, and brings new potential savings in the form of increased premium tax credits. Premium tax credits are critical in helping Americans afford monthly premiums for those much-needed coverage options.

But as a consumer already enrolled in a marketplace health insurance plan, how can you tap into these additional savings? Even with existing tax credits in place for which you may have previously qualified, there could be even more savings to be had. Today, we’ll walk you through what to do to explore your next steps. After all, if you could enroll in your current plan with deeper savings, or better yet, find a more comprehensive plan for less, you would likely want to take advantage of it.

Know Your Needs First

Premium tax savings won’t necessarily matter if you pick the wrong marketplace insurance coverage. So, before you explore your application process, take a look at your current needs for a health insurance plan. Assess the healthcare needs for yourself and those you plan to insure, much like you did when you first enrolled in your current coverage.

Know Your Healthcare Providers

Before you begin your application process, take stock of what your healthcare needs are now. Start by reviewing your current roster of physicians and providers. Make a note of who your doctors are, including general practitioners and specialists. If you need to change providers or find new ones, you’ll need to be aware of in-network and out-of-network statuses.

Predict Any Preventive Care Needs

Try to evaluate what healthcare services you might need in the coming months. Preventive care appointments are always critical considerations. But, also be mindful of any recent conditions or symptoms that might require more substantial care. When you pick a healthcare plan, even if it’s the same plan you currently have, you’ll want to make sure the coverage meets those impending needs.

New Conditions for You or Your Family

Routine lab work might turn up results of high cholesterol, which now translates to a new medication. Maybe you’re approaching an age at which new medical screenings are required, like colonoscopies or mammograms. Be mindful of any treatments or screenings you might need over the next several months. These new conditions, for yourself and your family, will help guide your decision when choosing a health insurance plan.

Know Your Budget

It’s important that you also know your current household budget situation. Calculate your income and do your best to predict routine household expenses. As part of your premium tax credit application process, you’ll need to better understand your level of affordability. It’s this information that will help you determine your amount of potential savings in the form of premium tax credits.

Household Income Thresholds

Look at your financial situation now before you browse the marketplace for a new insurance plan. Things change with work and income, which will play a role in how you apply for premium tax credits. Calculate your income, as well as that of your spouse, if applicable, to better understand your earnings benchmarks.

Regular Household Expenses

When you first enrolled in your health insurance plan, you likely had an idea of what your regular household expenses were. But much like everything else, your bills may have changed since then. Before submitting an application for premium tax credits, you’ll want a clear understanding of what is affordable to you.

Number of Household Members Needing Coverage

Adding a new member of the family automatically qualifies you for a special enrollment period. But taking advantage of any newly available tax credits now means reapplying. So you’ll want to be sure to include everyone within your household who may need coverage.

Reapplying for Potential Increased Savings

Once you have a current and accurate snapshot of your household dynamics, healthcare, and budget needs, you can look to explore reapplying via the marketplace. Once you apply, you can confirm whether or not you’re able to leverage any of the newly offered premium tax credits. You might be surprised how affordable silver, gold, and platinum level plans can be.

Start with W3LL

Applying for health insurance via the marketplace can seem like a tedious task. But you don’t have to reapply alone. Instead, browse the available marketplace plans with W3LL. Answering a few questions upfront is all it takes to verify any new premium tax benefits. And with those new potential savings, W3LL can help you navigate the available health insurance plans. Whether you end up re-enrolling in your current plan or selecting a new one, W3LL can help.

Additional Support for the Process

For additional information on the current American Rescue Plan enrollment period or to learn more about the latest round of economic relief affecting the premium tax credits, there are resources at your disposal. You can visit or Both government departments offer relevant information about defining affordability, available tax credits, and timelines for enrollment.

Enroll & Save Today

Once you feel you’ve calculated and assembled your most recent information, you can officially reapply for the latest round of potential tax credits. Approvals can be quick, and for many Americans, there are substantial savings that can be applied to monthly premiums. You may find that with the deeper discounts, you can afford to enroll in a more robust plan with better coverage options, as well.

The latest round of additional savings with premium tax credits can only be claimed by reapplying. Act now to explore what discounts are available to you. Do your homework to reassess your current healthcare needs, income levels, and household members. And when you’re ready to see how much you can save, start with W3LL. Our free service allows Americans to apply for the latest benefits, browse health insurance plans, and enroll directly with a few easy steps. Visit W3LL today to begin your process.


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