Health Insurance & Your Taxes
Did you know that health insurance plays a big role on your tax return? What does the Affordable Care Act (ACA) sometimes called Obamacare mean for you?
- With a few exceptions, EVERYONE must have health insurance or Minimum Essential Coverage (MEC).
- If a taxpayer does not have coverage they have to pay a penalty.
- With the premium tax credit, there is government help to purchase health insurance.
OPEN ENROLLMENT IS HERE. GET COVERAGE!
Maryland Health Connection is Maryland’s official health insurance marketplace and your one-stop shop for comparing and enrolling in a health or dental plan. It’s also the only place you can get financial help to lower the cost of health insurance. In fact, 9 out of 10 Marylanders who enrolled last year qualified for financial help. Sign up or compare plans and prices today at MarylandHealthConnection.gov.
Already covered? Shop around at MarylandHealthConnection.gov
- Plans and prices change every year, so it pays to shop around during open enrollment to find the best plan for you.
- If you or a family member is eligible for Medicaid or MCHP, you can enroll year-round.
- It’s important to come back each year to update your household size and income information to be sure you’re getting the right financial help.
Protect Your Health and Your Wallet
Most people are required to have health insurance or pay a penalty in their taxes. In 2017, the fee for NOT having health insurance is about $700 per person or 2.5 percent of your household income, whichever is higher.
- Avoid the fee and get covered today. Enroll online, by phone or with free, local in-person help. Visit MarylandHealthConnection.gov to learn more.
You May Qualify for Financial Help
- Maryland Health Connection is the only place you can get financial help to lower the cost of health insurance.
- Last year, 9 out of 10 Marylanders who enrolled through Maryland Health Connection qualified for financial help.
- You may qualify for tax credits that lower your monthly premium and for lower out-of-pocket costs, like deductibles and copays.
- Or, you may qualify for free or low-cost coverage through Medicaid or the Maryland Children’s Health Program.
- Visit MarylandHealthConnection.gov/financial-help to see if you qualify today.
Open enrollment through Maryland Health Connection is Nov. 1 to Jan. 31 for coverage in 2017.
If you’ve experienced certain life changes such as getting married, having a baby or losing other health coverage, you may be able to get covered during a special enrollment period. Enrollment in Medicaid is year-round.
Visit MarylandHealthConnection.gov to sign up today!