Trenton – More than 307,000 residents have obtained health insurance through the state’s Get Covered New Jersey portal. This is a 21% increase from a year ago and the highest number in a year since the debut of the Affordable Care Act marketplace in 2014.
Registration deadline is January 31st. After that, you can only enroll if you have a major life event such as getting married, having a baby, moving house, or losing work-based health insurance.
The Department of Banking and Insurance recognizes that federal and state policies provide additional financial support to provide coverage for people, and the majority of those receiving support are on plans of $10 or less per month. said to be able to access
“New Jersey residents are buying more health insurance in the market than ever before,” said Banking and Insurance Commissioner Marlene Callide. “These people are getting quality, affordable health insurance at a time when coverage and care are less important.”
According to the state, as of January 2, 307,292 residents were insured through the state marketplace, of which about 215,000 had automatically renewed their insurance and actively signed up for plans. It included more than 90,000 people who chose , some of which were repeat customers.
Signups are up 53,000 from a year ago.
The federal American Rescue Plan increases financial assistance and limits personal health insurance premiums to 8.5% of income.
The state extended subsidies to people with incomes up to 600% of the federal poverty line instead of 400%. This brings the threshold to $77,280 for an individual and $159,000 for a family of four. Over 26,000 people signed up with this expansion, saving us about $250 per month.
New Jerseyers will be required to have health insurance, similar to what was in the ACA from 2016-2018. Unless you qualify for an exemption, people without health insurance will pay the fine when they file their income tax.
Michael Symons is the State Legislative Bureau Chief for New Jersey 101.5. Please contact [email protected]..