The federal government recently passed a COVID-19 relief bill, the American Rescue Plan Act of 2021, which was signed into law by President Biden on March 11, 2021.  The new law will reduce individual coverage (non-group) health insurance premiums by providing more financial help (subsidies) to eligible consumers who purchase a plan through Get Covered New Jersey, Pennie, and the FFM.  The COVID open enrollment period has been extended until August 15^th, 2021 in Pennsylvania and through the end of the year in New Jersey.  An estimated 50-75% of the current off-exchange market will now be eligible for subsidies. Because of this, it is highly recommended that all brokers with individual business become certified with the exchanges to continue to receive commission.

New Jersey

If you have not signed up to sell through Get Covered NJ, you need to complete the “Intent to Sell Form” at https://nj.gov/getcoverednj/home/assisters_ba.shtml . Once completing the form, you will receive an email from the state within a few business days with further instructions on how to complete registration.  You should be able to complete registration within a day of receiving your login information from Get Covered NJ.

Pennsylvania

To sell through Pennie, you can complete training in one day at  https://agency.pennie.com/brokers/.  Once on the website, select the get certified link on the left side of the page. There will be modules that you will be required to complete before being able to sell through Pennie.

Please keep in mind, if you choose to not become exchange certified in your states of preference, you are effectively choosing to no longer produce in the individual market due to the lower qualification threshold for subsidies.  We strongly recommend that you take the time to complete these steps to position your firm for continued growth in the ever expanding individual market.

If you have any questions, please reach out to Kistler Tiffany Benefits’ Consumer/Individual Specialist, Tyler Jackson at tjackson@ktbenefits.com.