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What is “financial assistance”?

Financial assistance is help paying your insurance bills and out-of-pocket health care costs if you qualify. Most people who enrolled through Maryland Health Connection for 2015 received financial assistance.

You may qualify for lower monthly costs through a federal tax credit called the Advanced Premium Tax Credit (APTC). These credits can be applied directly to your monthly premiums so you pay less each month for insurance now, or you can choose to use the tax credit when you file your federal income taxes.

You may also qualify for a cost-sharing reduction, which lowers the amount you have to pay for out-of-pocket costs like deductibles, coinsurance and copayments.