Health Insurance - Southern Maryland Health and Life Insurance - Serving the Health insurance, Life insurnace, Medicare, Dental, Vision, and Annuity needs of individuals and businesses in Maryland, Washington DC, and Virginia

Health Insurance Options

To qualify for help with insurance premiums, you must purchase health insurance through a state or federal exchange. You can find more information about those plans below. There is an exciting new alternative for those that do not qualify for the tax subsidies that you can sign up for all year long. You can find more information about that plan here

Affordable Care Act

The Affordable Care Act was signed into law in 2010. It established several guidelines for minimum essential care. It also established an individual mandate that requires everyone to have insurance that provides minimum essential care (known as a qualified health plan) or pay a penalty. For 2017, the penalty is either 2.5% of your household income or $695 per individual ($347.50 for children under 18). If you have insurance through an employer, you more than likely have a qualified health plan. Your employer must tell you if it is not.

Open enrollment

Under the Affordable Care Act, you can only enroll in a qualified health plan during the open enrollment season or if you have a special enrollment period. The open enrollment period runs from 1 November - 31 January. You may be able to purchase health insurance if you qualify for a special enrollment period. To qualify you must have a qualifying life event. Below are some life events that qualify you for a special enrollment period. This list does not show all the reasons, so if you have any questions or feel you may qualify for a special enrollment period, then please feel free to call and ask. My services are free to you.

Get married or divorced

Certain changes in income

Gaining or losing a dependent

Becoming ineligible for Medicaid or MCHP

COBRA coverage period ends

Having a child, adopting a child, or placing a child for adoption or in foster care

Moving to or from Maryland, and moves within the state

Certain losses of other health coverage (such as employer ending coverage, or loss of job or employee leaving a job that provides coverage, but not termination because you didn’t pay your plan premium)

Turning 26 years old if you are enrolled in coverage through your family’s plan

Tax Subsidies

If you meet the income standards, then you may be eligible for tax subsidies that help reduce your premium. You can apply all or a portion of your subsidy towards your premium every month to reduce your monthly premium. When you file your taxes, these subsidies will be reconciled against your actual income so it is important to accurately record your income. I can help you determine if you are eligible for these tax subsidies and help you determine the best way to have them applied to avoid a large tax bill at the end of the year.