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Saturday, May 20, 2023

Stimulus Check Update: New Payments Coming Through

Although the chances of a fourth stimulus check do seem to be off the table, there have been other forms of economic assistance in place. This implies that people would be able to get hold of some more money.

In addition to several programs of the state, and along with the money that would be provided to specific groups of frontline workers, there are high chances that a few Americans will also be deemed eligible for an extra sum of money- all thanks to their health insurance requirements under the Affordable Care Act. 

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Stimulus Check Set For A Few People

According to major reports, insurance providers would have to spend around 80% of their premiums on claims and a few other activities like hospital discharge plans, and health assessments along with patient safety activities.

Plans for large groups, which usually include 50 employees would have a ratio of 85/15, and if providers wouldn’t be able to meet this requirement, annual rebates will be sent out in the form of a premium stimulus check or credit. According to estimates put forward by the Kaiser Family Foundation, it has been predicted that around $2.1 billion would be owed to around 10.7 million people. 

Along with these payments, recipients of Social Security would also be expected to be a part of the significant cost-of-living adjustment for the next year- which would also see a hike of around 6%, as reported by CNBC. This news came after the Senior Citizens League decided to make some calls and ensure that a stimulus check solely for seniors was in place. 

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Nevertheless, even with all the programs of funding in place, an all-encompassing stimulus check payment wouldn’t be appearing in the works, despite experts touting the idea of monthly stimulus payments of some kind.

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