Did you know that a 90-day supply of a generic prescription at the TeamstersCare walk-in pharmacies only costs $5; and a brand name medication when no generic is available only costs $15?
The American Rescue Plan Act of 2021
On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021 (ARPA or the Act). This bill provides relief to Americans amid the current economic circumstances, including subsidizing COBRA premiums for unemployed workers.
Here’s what we know so far…
- The Act provides for a federal subsidy of 100 percent of the COBRA continuation premiums for TeamstersCare participants who lost health insurance coverage due to an involuntary termination of employment or reduction of hours
- “Assistance Eligible Individuals” (AEI) may be the member, their federally recognized spouse, and/or dependent children
- The subsidy runs from April 1st through September 30th, 2021
- For those eligible, TeamstersCare will cover the cost of your COBRA premium for up to 6 months
- The subsidy applies to all COBRA group health plans at TeamstersCare, including medical/pharmacy, dental and vision
- As soon as specific guidance is released, TeamstersCare will provide notification to affected individuals
TeamstersCare is still awaiting additional guidance and model notices from the regulatory agencies. Please check our website frequently, as we plan to post updated information as soon as we receive it.