💵 $500 ACA REFUND CHECKS ARE COMING: BUT WHO ACTUALLY GETS ONE?

730 BOOM RADIO | MONEY ALERT

WASHINGTON 💥 Before everybody starts mentally spending that $500, there is one BIG catch:

This is NOT a $500 check for everybody.

The Trump administration says nearly 1 million Affordable Care Act enrollees in 30 states will receive $500 refund checks. The Treasury began sending the payments September 30, according to CBS News. CBS News

💰 WHO QUALIFIES?

The refunds are primarily for people who:

• Purchased ACA health insurance through the federally operated marketplace

• Live in one of the participating states

• Paid their premiums without receiving premium assistance or tax credits

The administration says the money comes from surplus user fees associated with operation of the federal ACA marketplace. The White House characterizes those fees as previous overcharges being returned to consumers. Independent health-policy experts have questioned that characterization and where the accumulated surplus originated. The White House

And here's the part our Illinois listeners need to know:

🚨 ILLINOIS IS NOT ON THE LIST

Illinois operates a state-based ACA marketplace, rather than being one of the 30 states included in this particular federal refund program. That means Illinois residents are not eligible for these $500 refunds based on this program. Money

Well DAMN. 😩

Chicago heard “$500 checks” and had the cart loaded before we got to paragraph two.

📬 DO YOU HAVE TO APPLY?

The administration has described the refunds as being sent automatically to eligible people. So this isn't a new stimulus program where everyone fills out an application hoping to qualify. Money

The 30 states included are Alabama, Alaska, Arizona, Arkansas, Delaware, Florida, Hawaii, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Montana, Nebraska, New Hampshire, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, West Virginia, Wisconsin and Wyoming. The White House

So before your cousin posts:

“TRUMP SENDING EVERYBODY $500! CHECK YOUR CASH APP!”

Send them this article. 😂

It's real money.

It's real checks.

But everybody ain't getting one.

730 BOOM RADIO

IT HITS DIFFERENT. EVERY TIME. BOOM! 💥