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Higher tax credits and nearly free for those who got unemployment

ALBANY – About one-third of New Yorkers get their health insurance through the state’s exchange, and now there are higher benefits for income-eligible residents, as well as nearly free coverage for those who collected unemployment this year.

The NY State of Health, the state’s official health plan marketplace, has more than 6 million enrollees as participation jumped during the COVID-19 pandemic because of the toll the virus took on the economy. Anyone who needs health insurance should apply today,” Danielle Holahan, the program’s deputy director, said in a statement Friday. Now, with federal help, the benefit is up to $420 per month. And, for the first time, those earning above that are also eligible for a pro-rated amount of federal tax credits.

What if you collected unemployment this year?
If you received at least one week of unemployment benefits this year, you could apply for health insurance breaks through the exchange. And if you’re married filing jointly and your spouse collected unemployment, you’d also be eligible.

If you are eligible, the Silver level plan through the exchange would have the lowest costs, the state said.

The extra savings runs through the end of the year. How to apply? Current enrollees can also make changes by logging into their NY State of Health account. To read more about the benefits available under the American Rescue Plan.

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