Good news for young adults in Maryland who need health coverage!
Young adults ages 18-37 are now eligible for additional discounts through the young adult subsidy program. Previously, the state program only provided savings for adults through age 34. The savings are combined with those already available through the marketplace.
Monthly premiums dropped by about $40 on average for more than 33,000 young adults who qualified in 2023, in addition to other savings. The subsidy works on a sliding scale for those with the youngest and lowest income young adults paying the least.
The program's goal is to encourage more young adults in Maryland to enroll in health coverage. Young adult enrollments surpassed 50,000 in 2022 - 7% more than a year earlier.
To find out how much you can save, use the Get an Estimate tool beginning in early October 2023. The amount of financial help you receive will vary based on your income, family size and ZIP code. Examples of discounts for 2024 are:
If you are age 25 in Baltimore City with a lowest cost gold plan and making $27,500, your new monthly payment is $0.
If you are age 28 in Allegany County with a lowest cost gold plan and making $33,000, your new monthly payment is $5.53.
If you are age 30 in Prince George’s County with a lowest cost gold plan and making $38,500, your new monthly payment is $57.14.
Open enrollment begins Nov. 1, 2023 and runs through Jan. 15, 2024.