April 12, 2021

checks

Not just $1,400 checks: 5 new health care, FSA, insurance and COBRA savings in the stimulus law

With the new stimulus bill, you may be able to save money on health insurance plans this year.


Sarah Tew/CNET

You’re probably familiar with the $1.9 trillion stimulus law that includes a third stimulus check for up to $1,400 per person, a child tax credit for up to $3,600 per kid (how to calculate your child credit total) and several other tax breaks for people who are unemployed, low-income or have kids. But the American Rescue Plan Act also contains important updates and tax breaks for medical care and health insurance that could benefit your family. 

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Child tax credit 2021: Calculating the total is a brain-buster, but it could bring more than stimulus checks

Calculate how much money you could get from the 2021 child tax credit.


Sarah Tew/CNET

Figuring out how much you could expect from the third stimulus check is hard enough, with new income limits and more dependents counting toward the payment this time. (And plus-up payments, if you’re due more.) The new child tax credit is even more confusing, which will calculate the payments based on your income and the age of your kids and then dividing payments up over the second half of 2021 and into 2022.

But it’s worth getting your arms around, as the expanded

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More than $1,400 stimulus checks: New health care, FSA, insurance and COBRA savings

With the new stimulus bill, you may be able to save money on health insurance plans this year.


Sarah Tew/CNET

The latest stimulus law includes benefits for millions of Americans, including a third stimulus check for up to $1,400 per person, an expanded child tax credit (how to calculate your CTC total) and several other tax breaks for people who are unemployed, low-income or have kids. But the bill, along with some other IRS changes this year, also contains important updates and tax breaks for medical care and health insurance that could benefit your family. 

Those

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Child tax credit 2021 could bring more than stimulus checks. Calculating the total is a brain-buster

Calculate how much money you could get from the 2021 child tax credit.


Sarah Tew/CNET

While the IRS continues to send out fresh batches of stimulus checks of up to $1,400 each, a perk in the new $1.9 trillion COVID relief bill is set to bring thousands of dollars to families with children. Along with savings for medical costs, and extra unemployment checks, households with dependent children can expect even more money from changes to the child tax credit. Over time, it could potentially bring in more than the stimulus checks, with CTC payments

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Social Security beneficiaries receive bulk of latest stimulus checks

A fourth batch of more than 25 million $1,400 stimulus payments has been sent, and this time Social Security beneficiaries received most of the money.

The IRS announced on Wednesday that new stimulus checks totaling more than $36 billion had been issued. Those payments began processing on Friday, April 2, and had an official payment date of April 7.

The new batch brings the total payments issued to date to more than 156 million, or about $372 billion.

The $1,400 stimulus checks were authorized by Congress in March. They include payments of up to $1,400 per person, plus $1,400 per

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New batch of $1,400 stimulus checks includes ‘plus-up’ payments

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A third batch of $1,400 stimulus checks has been sent, which this time includes “plus-up” payments for people who are eligible for more money now that their 2020 tax returns have been processed.

The latest payments bring the total number of checks issued to more than 130 million, representing a total of about $335 billion, according to the IRS.

The third batch included more than 4 million payments worth more than $10 billion. Those payments had an official payment date of March 31, but could have been received earlier, according to the tax agency.

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