Obamacare Insurance: Maryland's Choice

As of early 2022, a record 35 million people were enrolled in coverage related to the Affordable Care Act (ACA), also known as Obamacare. In Maryland, 213,895 people enrolled in private plans through the state-run exchange, Maryland Health Connection, during the open enrollment period for 2024 coverage. This was a record high for the state. Maryland also offers state-funded subsidies for young adults aged 18-37, helping to make coverage more affordable for this population.

Obamacare insurance in Maryland is known as the Affordable Care Act (ACA)

In Maryland, Obamacare insurance is known as the Affordable Care Act (ACA). The ACA is a federal law that was passed in 2010 and requires states to establish and operate a health insurance exchange by 2014 or participate in a federal exchange. Maryland chose to create its own state-run exchange called Maryland Health Connection, which serves as a marketplace for residents to enrol in health plans.

The ACA offers individuals and families affordable health insurance options. These plans are available for self-employed people, early retirees needing coverage until Medicare, and workers at small businesses that don't offer health benefits. Maryland's ACA plans are organised into four categories: Bronze, Silver, Gold, and Platinum. The state also offers a catastrophic plan for residents under 30.

Maryland's ACA marketplace is accessible to most Marylanders, including non-U.S. citizens with worker or student visas. The state also provides additional financial assistance, such as state-funded subsidies for young adults aged 18-37, making coverage more affordable for this age group.

During the open enrolment period for 2024 coverage, 213,895 people enrolled in private plans through Maryland Health Connection, setting a new record. This surge in enrolment was largely due to the American Rescue Plan, which improved affordability, and the end of the pandemic-era Medicaid continuous coverage rule.

Maryland's ACA marketplace provides residents with a range of health insurance options, ensuring they can access quality healthcare services at affordable prices. The state's efforts, such as establishing a reinsurance program and offering various subsidies, have helped keep premiums lower than they would otherwise be.

The ACA is accessible via the Maryland Health Connection

The Affordable Care Act (ACA) is accessible via the Maryland Health Connection, which is the state's health insurance marketplace. The ACA, also known as Obamacare, is a federal law that was established in 2010 and requires states to set up a health insurance exchange for residents to enrol in health plans. Maryland's open enrolment period for 2024 health insurance coverage through the Maryland Health Connection ran from November 1, 2023, to January 15, 2024.

Maryland residents can enrol in ACA plans through the Maryland Health Connection website or the state exchange's mobile app. They can also call the Maryland Health Connection customer service centre or speak to in-person representatives called "navigators" and "brokers," who can help them understand their options and determine their eligibility for financial assistance.

The Maryland Health Connection offers a range of plans, including Bronze, Silver, Gold, and Platinum, each with different premium, deductible, and copay levels. The state also offers a catastrophic plan for residents 30 and younger. Marylanders can use the “Get an Estimate” tool on the website to compare plans and see if they are eligible for financial assistance.

In addition to federal subsidies, Maryland offers state-funded subsidies for young adults aged 18-37, making coverage more affordable for this age group. Maryland also has a reinsurance program that has helped keep full-price premiums lower than they would otherwise be. The state's Easy Enrollment Program allows residents to connect with health coverage via their state tax return.

As of the 2024 open enrolment period, 213,895 people enrolled in private plans through the Maryland Health Connection, a record high. This surge in enrolment in recent years is attributed to the American Rescue Plan, which improved affordability, and the end of the pandemic-era Medicaid continuous coverage rule.

The ACA offers four categories of plans: Bronze, Silver, Gold, and Platinum

The Affordable Care Act (ACA) offers four categories of plans: Bronze, Silver, Gold, and Platinum. These plans are differentiated based on their actuarial value, which is the average percentage of healthcare expenses that will be paid by the plan. The higher the actuarial value, the more the plan will pay towards your bill, and the lower your out-of-pocket costs for deductibles, copayments, and coinsurance. Here is a breakdown of each category:

Bronze Plans

Bronze plans have the lowest monthly premiums and the highest deductibles and copays. They cover around 60% of care costs and are designed to protect you in the case of serious illness or injury. Bronze plans are a good choice if you want a low-cost option and are willing to pay for most routine care yourself.

Silver Plans

Silver plans have moderate monthly premiums, deductibles, and copays. They cover between 70% and 94% of care costs, depending on whether you qualify for a basic plan or an enhanced silver plan for lower-income households. Silver plans are the only ones eligible for cost-sharing subsidies, also known as "extra savings." These plans are a good choice if you qualify for extra savings or are willing to pay a slightly higher premium for more coverage of routine care.

Gold Plans

Gold plans have higher monthly premiums and lower deductibles and copays. They cover around 80% of care costs. Gold plans are a good choice if you are willing to pay a higher monthly premium to have more costs covered when you receive medical treatment. If you use a lot of care, a gold plan could offer good value.

Platinum Plans

Platinum plans have the highest monthly premiums and the lowest deductibles and copays. They cover around 90% of care costs and are designed for people with significant healthcare needs who are willing to pay the highest premiums. Platinum plans are a good choice if you usually use a lot of care and want to pay a high monthly premium, knowing that nearly all other costs will be covered.

In addition to these four main categories, "catastrophic" plans are also available to some people. These plans have very low premiums but extremely high deductibles. They are designed for people who want protection from huge financial bills in the case of serious illness.

When choosing an ACA plan, it is important to consider your budget and expected healthcare needs. You will need to estimate your household budget for the coverage year and think about how much healthcare you expect to use. If you don't anticipate needing much care, a Bronze plan may be a good option. If you expect to have many healthcare visits or require regular prescriptions, you may be better off with a Gold or Platinum plan.

In Maryland, residents can purchase ACA plans through Maryland Health Connection, the state's ACA marketplace. During the most recent open enrollment period for 2024 coverage, 213,895 people enrolled in private plans through Maryland Health Connection, a record high. Maryland also offers state-funded subsidies for young adults ages 18-37 to make coverage more affordable for this population.

Enrollment for 2024 coverage ended on January 15, 2024

The enrollment period for 2024 health coverage in Maryland ended on January 15, 2024. This is the same date that most states ended their enrollment for 2024 coverage. However, in some states, the deadline was extended to January 16, 2024, due to a federal holiday.

Maryland Health Connection is the state's Affordable Care Act (ACA) marketplace, where most Marylanders can purchase health insurance. The open enrollment period for 2024 coverage in Maryland began on November 1, 2023, and ended on January 15, 2024. During this period, residents could apply for health coverage through Maryland Health Connection.

Maryland's open enrollment period for individual and family health plans typically runs from November 1 to January 15. However, it's important to note that the deadline to get coverage starting January 1 is usually December 31, which is different from most other states where the deadline is December 15.

Maryland offers an Easy Enrollment Program, which allows residents to connect with health coverage through their state tax return. By checking a box on their state tax form, residents can have the Maryland Health Benefit Exchange estimate their eligibility for coverage, including free or low-cost health insurance. After filing their taxes, they will receive a letter with more information and must enroll in a plan within 35 days.

Outside of the open enrollment period, residents typically need to experience a qualifying life event, such as losing coverage, getting married, or permanently moving, to enroll or make changes to their health insurance plan. Maryland also allows Native Americans to enroll year-round and offers special enrollment periods for other qualifying events.

Enrollment is also possible outside of the open enrollment period under special circumstances

In Maryland, the yearly open enrollment period for individual and family health plans runs from November 1 to January 15. However, enrollment is also possible outside of this period under special circumstances.

You may qualify for a Special Enrollment Period (SEP) if you have experienced certain qualifying life events, such as losing your health coverage, moving, getting married, having a baby, or adopting a child. Additionally, if your household income falls below a certain threshold, you may also be eligible for a SEP.

For certain life changes, the SEP details may vary. For instance, if you or anyone in your household has gotten married, you must pick a plan by the last day of the month for your coverage to start on the first day of the following month. On the other hand, if you have had a baby, adopted a child, or placed a child for foster care, your coverage can start on the day of the event, even if you enroll up to 60 days later.

It is important to note that you may need to provide proof of your qualifying life event when applying for a Special Enrollment Period. Additionally, if you are enrolling due to a decrease in household income, you will need to provide documentation to support your application.

Maryland also offers the Easy Enrollment Program during tax season. By checking a box on your state tax form 502 or 502B, you can indicate your interest in having the Maryland Health Benefit Exchange estimate your eligibility for coverage, including free or low-cost health insurance. After filing your taxes, you will receive a letter with more information about health insurance coverage. Remember, you must enroll in a plan within 35 days of receiving this letter.

Frequently asked questions