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Member, Beacon International Group, Ltd.
The Biden administration’s COVID-19 relief plan includes subsidized Consolidated Omnibus Budget Reconciliation Act health coverage through Sept. 30, 2021, for workers who lost their employer-sponsored health insurance, SHRM reports. The relief and economic recovery plan would expand and increase the value of the Affordable Care Act's premium tax credits, to lower or eliminate health insurance premiums for ACA marketplace plans by ensuring plan enrollees would not pay more than 8.5% of their income for coverage and expanding existing tax credits for people who earn up to 400% of the poverty level.