Maryland Young Adult Health Insurance Subsidy: Advocates Push for Extension to Maintain Affordable Coverage

Maryland Young Adult Health Insurance Subsidy: Advocates Push for Extension to Maintain Affordable Coverage

November 11, 2024 Catherine Williams - Chief Editor Health

Maryland’s Health Care Subsidy for Young Adults

Overview of the Subsidy Program

In Maryland, a state subsidy program has been crucial in helping over 67,000 young adults afford health insurance. Established in 2022, this program provides $20 million annually in subsidies to make health coverage more accessible.

Eligibility and Benefits

  • The subsidy is available to individuals aged 18 to 37 with incomes at or below 400% of the federal poverty level. For 2024, this means $15,060 for individuals and $25,820 for a family of three.
  • This program has enabled many young adults to access health coverage through the Maryland Health Benefit Exchange for the first time.
  • It has also made it easier for those already insured to afford their plans or upgrade to lower their deductibles and copays.

Impact on Health Coverage

  • Young adults now make up 30% of private plan enrollments on the state exchange, the highest percentage since the exchange was established in 2011.
  • This age group is the least likely to have coverage due to low access to employer-provided insurance.

Advocacy and Legislative Support

  • Health care advocates, including the Maryland Health Care For All Coalition, are advocating for the extension of this program beyond its current end date in June 2026.
  • Key Democrats and county executives from Howard and Anne Arundel counties support continuing the program until at least 2028, when the insurance assessment funding it is set to expire.
  • Members of both the public and private sectors have testified in favor of the program during legislative sessions.

Future of the Program

  • Advocates will gather for a news conference to call for legislators to vote for the program’s continuation.
  • The program’s success in lowering premiums for people of all ages who purchase coverage through the state’s online marketplace is a central argument for its extension.

By extending this subsidy, Maryland aims to maintain affordable health insurance options for young adults, ensuring they have the peace of mind and health care access they need.