The Centers for Medicare & Medicaid Services (CMS) made the announcement as part of the Biden Administration’s recent American Rescue Plan (ARP). This new SEP will allow more opportunities for lower-income consumers to enroll in Marketplace health care coverage during the year and benefit from the increased financial help to pay it. To be eligible, consumers must have an estimated annual household income at or below 150% Federal Poverty Level in their state and not be eligible for Medicaid/CHIP.
Eligibility requirements by state and household size for 2022 Marketplace applications can be found here.
Consumers will be able to access the low-income SEP now, and it is available to those who have applied for Marketplace coverage since Open Enrollment ended and who didn’t have access to another SEP from a recent life event, such as a loss of coverage or a move.