Since the passing of the Affordable Care Act, there is a nationwide requirement for the minimum essential coverage of health insurance. In Maryland, you are considered to be enrolled in this minimum through Medicaid, the Maryland Children's Health Program (or MCHP), the MCHP Premium plan, Medicare, coverage sponsored by an employer, a health plan found through the Maryland Health Connection, or a plan that is found through the individual or even small group markets. If you fail to meet this federal requirement, you will have to pay a penalty during tax season.
When you are looking to purchase a qualified health plan, you need to be sure that it meets all federal requirements. Any plan that is offered by the Maryland Health Connection meets certain standards and qualifies as minimum essential coverage. To shop for a health plan on Maryland Health Connection, you must live in Maryland as well as be a U.S. citizen. Additionally, you cannot be incarcerated unless your incarceration is pending a disposition. It is a good idea to take a look at what the market offers if your employer doesn't offer coverage or even affordable coverage, if you are self-employed, you want a more affordable plan, you were denied insurance because of a pre-existing condition, or if your employer’s plan does not meet the standards set forth by the federal government.
Health insurance can be very complicated and it is something that you should speak with independent insurance agents at Lambden Insurance Services. Since we are independent insurance agents, we do not work for one carrier and can compare rates against several major insurance carrier within the state to find you the best plan. To find the best price that fits your needs, contact a Lambden Insurance Services agent today!