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Biden passes the American Relief Act- What that means for Your Healthcare and Your Wallet

3/13/2021

 
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On March 11, 2021 Biden passed the American relief act at a price tag of $1.9 trillion. This act will:

The highlights:
  • $1,400 direct checks for Americans earning up to $75,000 ($150,000 for couples), phasing out at $80,000 ($160,000 for couples)
  • Extends the $300/week boost to unemployment benefits through August
  • $350 billion to state and local governments
  • $160 billion for vaccine development & distribution
  • $130 billion to help reopen K-12 school and colleges
  • $30 billion to help renters and landlords
  • $50 billion for small businesses
  • Raises child tax credit to up to $3,600 per child

    Additionally, it will increase subsidies for health insurance up to $85 per month per person for those eligible starting April 1. ​you can update your marketplace application to realize the savings or it will be reconciled at tax time. Read more about that https://www.cms.gov/newsroom/fact-sheets/american-rescue-plan-and-marketplace?utm_campaign=hcgov_ab&utm_content=english&utm_medium=email&utm_source=govdelivery


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Author: Heather Majka, owner of Citizens Insurance Solutions Tennessee’s only Social Security Claiming Strategist.

Comments are closed.

    Heather Majka, Certified Social Security Claiming Strategist, Owner of Citizens Insurance Solutions

    With over 25 years of industry experience, Heather is a subject matter expert.  Heather has two adult children serving in the US military (Naval Aircrew and US Army). Heather's husband is a US Army SNIPER Veteran that served during Desert Storm.  Heather has is a native New Yorker who has lived in Virginia, Texas, Florida, and now lives in Tennessee.

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