A Guide to Health Insurance in Maryland (MD)

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Maryland ranks as the state with the 16th lowest levels of residents who are uninsured for medical care, and yet even here 13% of the population has no Maryland Health Insurance Policy according to statistics from the Kaiser Family Foundation.

Setting aside for a moment the political arguments with regards to health insurance and the rights and wrongs of the Affordable Care Act which was signed in to legislation on the 23rd March 2010, this is clearly an issue that needs to be addressed.

The key reason why people don’t have Maryland Health Insurance is quite simply down to cost.

The average premium cost for Individual Maryland Health Insurance is $219 a month.

At a time when the country is going through a challenging economic climate and many people are losing their jobs, it is no surprise that this is an expense that many people simply choose to risk not paying, either because they don’t have the money, or because they have more pressing immediate needs for it.

Health insurance is something that like most insurance seems like a waste of money, right up until the moment when you need to use it, and then you are very glad that you have it.

Year on year medical costs have continued to rise and in the space of the last ten years insurance premiums have more than doubled.

It is with this backdrop that it is worth considering some of the ways that you can save money on the costs of Maryland Health Insurance.


Here are Three Ways To Save Money on Your Health Cover:

1/ Consider increasing your deductibles

There are generally options available to save money on the cost of premiums if you are willing to pay more out of pocket expenses such as raising your deductibles in the event of a claim. If you are generally in good health and don’t anticipate claiming then it may make sense to increase your co-payments or deductibles in return for lower monthly premiums.

2/ Check out alternatives to COBRA

COBRA can potentially be a blessing if you cannot get cover anywhere else, or have a medical history that makes it difficult to get private Maryland health insurance. But if you are healthy then suddenly having to pay 100% of the contributions, plus a 2% admin charge can very quickly turn an in-expensive option into an expensive one.

Remember that you have up to 60 days after your employment has terminated to enroll under COBRA rules, and so you should use that time to check out all of your other options, including getting quotes for individual Maine health insurance from other companies.

It may be that you can get a better deal on a similar standard of policy for less money.

3/ Move your health cover to your spouse’s policy

If both you and your partner are working then there is a good chance that Group Maine Health Insurance will be offered by both of your employers and that as a spouse you would be eligible to get cover under your partners policy.

You should therefore take some time to compare the differences between the two policies and also see if one of them requires fewer contributions.

You may well find that there are substantial savings to be had simply by moving cover to the cheaper option.

A good first step is to get some Maine Health Insurance Quotes from a selection of companies so that you can get an up to date idea of what you can currently afford.


 

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