EAST PROVIDENCE, R.I. (March 11, 2021) – Recent changes at the federal level mean most HealthSource RI (HSRI) customers will soon be paying less for their health coverage. This change will result in the federal government providing an additional $30 million dollars in Advanced Premium Tax Credits (APTCs) that will bring premium costs down for HealthSource RI customers.
President Biden recently signed the American Rescue Plan Act (ARP) to help Americans during the ongoing COVID-19 pandemic. Included in this relief package is an increase in financial help for customers of health coverage marketplaces like HealthSource RI. These changes will apply to coverage for all of 2021 and 2022.
HSRI will be working to communicate to all customers about how this federal law affects their monthly bills.
The ARP will help HSRI customers in the following ways:
- No customer will pay more than 8.5% of their Adjusted Gross Income (AGI) for the second-lowest-cost silver plan available via HealthSource RI marketplace.
- Many customers will have a lower monthly bill.
- Customers who have been receiving unemployment payments in 2021 may qualify for additional financial help for this year.
- Customers who previously did not qualify for financial help may now be eligible.
HealthSource RI (HSRI) is working to review all customer accounts as quickly as possible so that we can provide much-needed additional financial help to eligible customers. The first changes will be for customers who currently receive financial help or are currently eligible to receive financial help. They should expect to hear from HSRI about updated benefits within the next few weeks. Other affected customers should expect to hear from HSRI in the upcoming months.
The increased assistance will include additional help for the rest of 2021, as well as assistance for months that have already passed in 2021, if applicable.
HealthSource RI is the only place Rhode Islanders can apply for financial help to pay their monthly health coverage costs. Rhode Islanders who need health coverage are encouraged to contact HealthSource RI as soon as possible and get covered during our New Enrollment Period, which began February 15 and goes through May 15, 2021.
HealthSource RI is here to help:
- Use our new FAQ page for changes related to the American Rescue Plan, including examples of how much customers may save
- Use our live web chat (available in English and Spanish)
- Call HealthSource RI at 1-855-840-4774
- Join one of HealthSource RI’s virtual Info Sessions. Visit HealthSourceRI.com/Events to learn more.
The HealthSource RI call center and live web chat are available Monday – Friday, 8am – 6pm.
About HealthSource RI:
HealthSource RI is the state’s health insurance marketplace. It’s our mission to help Rhode Islanders easily navigate the complex health insurance landscape and enroll in a plan that works best for their individual and family needs. Since 2013, HealthSource RI has decreased the uninsured rate by more than two thirds. Today, 96 percent of Rhode Islanders have health coverage, the third lowest uninsured rate in the country. Rhode Island small businesses can purchase health coverage year-round through HealthSource RI for Employers. For more information, employers can talk to their broker or visit HealthSourceRI.com/Employers.