Big Sky Roundup

Healthcare exchange members may receive premium reductions, Downing says

By: - March 18, 2021 4:20 pm

Photo illustration by Getty Images.

Montanans who purchase their health insurance through may be eligible for premium savings.  Montana Insurance Commissioner Troy Downing advises anyone enrolled in these health plans to review their policies following the recent passage of the American Rescue Plan.

“Individuals enrolled in a plan will not automatically receive the additional subsidies in their monthly premium unless they update their application to receive a reduction of their monthly payment.” said Downing,“If the enrollee does not update their application, then those eligible for premium subsidies will receive the additional amount as a tax credit in 2022 when they file their taxes.”

According to the U.S. Department of Health & Human Services, on average enrollees will see their premiums reduced by $50 per person per month or $85 per policy per month retroactive to Jan. 1, under the new federal bill. Unemployed Montanans will receive maximum subsidies, meaning they will likely pay minimal or no monthly premiums, depending on the plan they choose.

The additional premium subsidy may allow some current enrollees to upgrade to a plan with a lower deductible for the same premium. However, consumers need to be aware that changing plans may result in a loss of deductible amounts they have accumulated in 2021.

“The ARP also eliminates the income cap, which will give subsidies to many more Montanans,” Downing said,“The special open enrollment period for remains open until May 15, 2021, which allows anyone who can now afford coverage as a result of lower premiums to sign up for coverage or change plans.”

Enrollees can go to or a local health insurance agent for more information on choosing the right plan for them and receiving the new premium subsidy.

44,711 people enrolled in private individual/family plans through Montana’s exchange during the open enrollment period for 2021 coverage.

Our stories may be republished online or in print under Creative Commons license CC BY-NC-ND 4.0. We ask that you edit only for style or to shorten, provide proper attribution and link to our web site. Please see our republishing guidelines for use of photos and graphics.