09-27-2023 Primtime Living - Flipbook - Page 22
22 A Special Advertising Section of Baltimore Sun Media Group | Wednesday, September 27, 2023
MARYLAND HEALTH CONNECTION
Plan
Welcome to the
Maryland Health
Connection
Choosing insurance plans,
enrolling, and one-on-one
assistance
By Margit B. Weisgal, Contributing Writer
Level
Insurance
Compan Pays
(on average)
You Pay
(on average)
Bronze
60% of health
40% of health
care costs
care costs
70% of health
30% of health
care costs
care costs
80% of health
20% of health
care costs
care costs
90% of health
10% of health
care costs
care costs
Silver
Gold
Platinum
This is a simplified picture of the types of plans and what they cost versus what you get
Maryland Health Connection: a.k.a. the
Marketplace
When it comes to the different types of
plans on Maryland’s official health insurance marketplace, the categories are all
labeled like medals at the Olympics. Well,
almost. There are no platinum medals at
the Olympics. In general, when you pay a
high premium, the plan pays more toward
your care costs, and the less you pay out
of pocket.
Open enrollment for 2024 health care
plans begins November 1. This is when
you can enroll, change plans or re-enroll.
Your coverage could begin January 1,
2024.
Here are other important dates:
• November 1: Open Enrollment starts for
health coverage for the next plan year –
first day you can enroll in, re-enroll in or
change health plans through the Health
Insurance Marketplace. Coverage can
start as soon as January 1.
• December 31: Last day to enroll in
or change plans for coverage to start
January 1.
• January 1: Coverage starts for those
who enroll in or change plans by
December 31 and pay their first
premium.
• January 15: Open Enrollment ends –
last day to enroll in or change health
plans for the year. After this date, you
can enroll in or change plans only if
you qualify for a special enrollment
period.
• February 1: Coverage starts for
those who enroll in or change plans
January 1 through January 15 and
pay their first premium.
You may be eligible for Special
Enrollment. Those are times when your
circumstances change, such as marriage,
having or adopting a child, losing coverage at a job, turning 26, or a death. For
more information, speak with a navigator
or a broker or visit the website: https://
www.marylandhealthconnection.gov/
how-to-enroll/special-enrollment/
In Maryland, four insurance companies
will offer plans for 2024: CareFirst, Kaiser
Permanente, UnitedHealthcare and Aetna.
Plan Types
Platinum
These plans have the highest premiums and pay the most to your provider(s),
usually 90%, of the costs. If you need a
lot of care, this may work out better for
you because the majority of your care is
covered by this plan.
Gold
This is still a high-premium option, like
the Platinum plan, balanced with low-cost
copays and/or deductibles. Compare this
with the Platinum plan to see which is best
for you.
Silver
If you are eligible for any cost-sharing,
you must get a Silver plan. Here are some
of the extra benefits for which you may
qualify:
Save with cost-sharing reductions in
three different ways:
1. You’ll have a lower deductible. This
means the insurance plan starts to
pay its share of your medical costs
sooner.
2. You’ll have lower copayments or
coinsurance. These are the payments you make each time you get
care. For example, if you qualify for
a cost-sharing reduction and enroll
in a Silver plan, you could pay $15
instead of $30 when you visit the
doctor.
3. You’ll have a lower “out-of-pocket
maximum.” The cap will be lower on
the amount you would have to pay
in a year if you used a lot of care,
such as a major surgery or accident.
Cost-sharing reductions are NOT tax
credits. You could qualify for both a tax
credit and cost-sharing.”
Bronze
The lowest level plan type, you will pay
the lowest premium and get the fewest
benefits.
The Process
To get started, create an account on
the Maryland Health Connection website.
Once you’ve registered, you will see a list
of documents you’ll need to complete
MD health connection,
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