Maryland Health Connection
Maryland Health Connection is a health insurance marketplace in the state of Maryland. It was created in accordance with the Patient Protection and Affordable Care Act. The marketplace is designed to provide the best possible coverage and prices for consumers. If you live in Maryland, you can apply for a plan online or by phone. There are a variety of benefits available for individuals and families.
Affordable health coverage for young adults
A new Maryland health insurance program makes it possible for young adults to get affordable health coverage. The program, co-sponsored by Del. Kenneth P. Kerr and Senate Finance Committee Vice Chair Brian J. Feldman, will lower the cost of insurance for young people by up to 50 percent. It does require a certain amount of monthly premium, but it does not include a deductible or copay.
The Maryland Health Connection opened for business in October 2013, but its first launch was a disaster. The system was not ready when it opened, and the state scrapped its initial website and started over using technology purchased from Connecticut’s exchange. The state paid Noridian Healthcare Solutions about $73 million for a website and other contractors to make the transition. However, it did open to all users two days earlier than it had originally planned.
Affordable health coverage for individuals on Medicare
If you’re on Medicare and don’t have a traditional health plan, there are a variety of options for affordable coverage. One option is a Medicare Advantage plan. Medicare Advantage plans are available to people who qualify, but do not meet the income and coverage requirements for traditional Medicare. These plans often cover the premiums for traditional Medicare and may even have supplemental benefits.
Other options include an HMO plan, a PPO plan, or an EPO plan. Some of these plans require a primary care physician while others do not. Either way, you’ll have lower out-of-pocket costs if you only use the network doctors.
Availability of plans
The Maryland Health Connection offers a variety of plans. Each plan is based on your needs and budget, and offers different benefits and deductibles. The individual plans also provide prescription drug coverage, fitness programs, and coverage for special needs. Each plan’s premium and deductible is unique, but many of the same benefits are included.
The Maryland Health Connection runs an Easy Enrollment Program each year, and it offers a tool to determine eligibility for low or free health insurance. Residents can also enroll when a qualifying life event occurs, such as moving, having a baby, losing employer-provided coverage, getting married, or filing for divorce.
Reinsurance program
In Maryland, Governor Larry Hogan and the state legislature approved legislation last year that will help stabilize the state’s individual health insurance market through a reinsurance program. Reinsurance will help lower premiums by reducing risk for insurers by providing them with funds to pay high medical costs. It is also expected to encourage healthier and younger enrollees. In Oregon, a reinsurance program helped reduce premiums by nine percent in 2018 and nine percent in 2019. In Maryland, the program is expected to lower premiums by 13.2 percent for 2019. Maryland officials are optimistic that reinsurance will help stabilize the health insurance market and lower premiums for Maryland citizens.
Maryland’s reinsurance program will initially cost $462 million for 2019. It will be partially funded through federal pass-through funding. This means Maryland will not have to raise taxes to fund the program. The state will receive $347 million in federal pass-through funding in 2019, and another $347 million in 2020 and $475 million in 2021.
Cost of plans
When shopping for a health insurance plan in Maryland, you’ll find a wide variety of options. The top-tier Gold and Platinum plans are often the best bets for people with high medical bills. Their lower premiums and lower deductibles are designed to minimize out-of-pocket expenses. The most affordable Gold plan in Maryland costs $296 per month.
If you’re unsure about the cost of Maryland Health Connection plans, you can use their online tool to compare plans and see how much they cost. The program helps lower the cost of health insurance for individuals and families. Additionally, it can provide financial assistance for people who may not otherwise qualify for coverage.
