Health insurance enrollment has been recently re-opened in the state of California. This time, the government is offering significantly lower premiums. The price is generally decreased by $1,000 and even more in specific cases.
The state exchange typically provides access to insurance once a year. The Coronavirus relief package signed recently by President Biden made it possible for the state residents to obtain subsidies that can assist in the management of insurance-specific expenses.
The subsidies will be available during the calendar year. This way, California residents will be able not only to meet income requirements but also to afford to take out new policies.
Previous attempts of the state to expand the number of insured people failed due to inefficient and aggressive marketing campaigns. Some residents would not be considered eligible to receive the help because they did not carry insurance or shopped for it off the exchange.
Current federal support seems to keep up with the state policy goals. That is why today, the majority of state residents without active employer-sponsored coverage or those who lost their insurance for different reasons will be eligible to receive the subsidies and save a significant amount of money.
Victoria is a Content Writer at American REIA, covering the latest industry news and various insurance topics, including auto, home, health, and life insurance.