New Jersey residents are receiving record financial help this year, according to the state Department of Banking and Insurance.
Nearly 300,000 New Jersey residents signed up for health insurance through the state’s healthcare marketplace during the first five weeks of open enrollment, the state Department of Banking and Insurance said.” to sign up for 2023 benefits. That is an increase of 4% from the same five-week period last year, said Marlene Caride, commissioner of the agency.
“We are excited to have connected so many residents to quality, affordable health insurance for 2023,” Caride said. “With a critical deadline for coverage approaching, we encourage residents to shop by December 31 for a health plan to take effect for the New Year.” New Jersey residents are receiving record financial help this year, with the average person saving $573 a month, according to a news release. The state said nine in 10 residents who enroll qualify for savings, with some paying as little as $10 a month for health coverage.
“It is important to know that most people enrolling will qualify for savings,” Caride said. “Additionally, because of the efforts of New Jersey and the federal government to increase financial help, record savings are available.” These low monthly premiums are a result of the Inflation Reduction Act, signed by President Joe Biden in August 2022, which increased the amount of financial help made available to consumers and ensures that no one’s premium exceeds 8.5% of their income if they enroll through Get Covered New Jersey.Our journalism needs your support. Please subscribe today to
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