Maryland Touts Low Obamacare Health Insurance Premiums
Health coverage sold on Obamacare’s health insurance exchange in Maryland will be among the cheapest in the country, state officials said Friday.
A 21-year-old nonsmoker will be able to buy health insurance that costs as little as $93 a month on the Maryland Health Connection, the state’s health insurance exchange, starting Oct. 1 for coverage that takes effect Jan 1, the Maryland Insurance Division revealed in a press release. Rates for insurance with richer benefits and lower deductibles will be higher and premiums will vary by age, residence location, tobacco use and whether family members enroll.
Maryland is the latest state to disclose how much health insurance actually will cost under President Barack Obama’s health care reform law. The state joins California, New York and elsewhere in achieving monthly premiums below estimates by the Congressional Budget Office and others. Officials in states including Indiana have released preliminary findings suggesting health insurance costs will skyrocket as a result of the law.
Younger, healthier people who buy inexpensive, bare-bones insurance on today’s market may see higher prices for more comprehensive coverage on the exchanges, while older people are expected to see lower rates. People with pre-existing conditions can’t be turned down or be charged higher premiums because of their medical histories. The law also prohibits women being charged more than men.