Increased tax credit for residents enrolled in NY State of Health insurance plans

State News

NY State of Health website

ALBANY, N.Y. (WSYR-TV) — As part of the American Rescue Plan from the federal government, residents enrolled in healthcare through NY State of Health are eligible for a larger tax credit.

“We are happy to share this good news with consumers. These new tax credits significantly lower the cost of health plan coverage for New Yorkers who buy through the marketplace,” said NY State of Health Executive Director, Donna Frescatore. “Current Marketplace consumers should visit us and update their tax credit information to claim these new credits. We encourage all New Yorkers who need coverage to contact the Marketplace and see what is available.”

NY State of Health says it has started notifying consumers about the changes and how they can claim their credit. The changes to the system will be made beginning Wednesday, March 31 and consumers should receive a notice and email of the changes no later than April 5.

Tax credits are also available now for New Yorkers with lower or moderate incomes who are new to the marketplace.

Starting in June, the new tax credits will be available to higher-income New Yorkers for the first time, lowering health care costs for most New Yorkers who access health insurance through the Marketplace. NY State of Health will provide information about the tax credits available to higher-income tax individuals in the coming weeks.

To allow as many consumers as possible to access these enhanced tax credits, and in light of the ongoing public health emergency, the 2021 Open Enrollment Period has been extended through December 31, 2021.  Consumers can apply for coverage through www.nystateofhealth.ny.gov by phone at 1-855-355-5777 and by connecting with a free enrollment assistor.

To read more about how NY State of Health enrollees benefit from the American Rescue Plan, please go to https://info.nystateofhealth.ny.gov/americanrescueplan 

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