Suspension of 2020 Repayment of Excess Advance Payment of the PTC
The American Rescue Plan Act of 2021, enacted on March 11, 2021, suspended the repayment of excess advanced premium tax credit (APTC) amounts for tax year 2020.
2021 Special Enrollment Period Extension
Centers for Medicare & Medicaid Services (CMS) is extending access to the Special Enrollment Period (SEP) until August 15 – giving consumers additional time to take advantage of new savings through the American Rescue Plan. This action provides new and current enrollees an additional three months to enroll or re-evaluate their coverage needs with increased tax credits available to reduce premiums.
American Rescue Plan
President signed the $1.9 trillion coronavirus relief package on Thursday, March 11th, 2021. The colossal bill, known as the American Rescue Plan, allocates money for vaccines, schools, small businesses and anti-poverty programs such as an expanded child tax credit that will mean new monthly payments to many parents.