Park City, Utah (PRWEB) August 23, 2013
Today, Zane Benefits, the number one online small business health benefits solution, published new information on Maryland Health Insurance Exchange rates.
According to Zane Benefits’ website, the Maryland Health Connection recently released approved insurance premium rates, which they claim are among the lowest rates that have been released so far. The plans for which these premium rates represent will be offered via their state marketplace starting October 1, 2013 as part of the Affordable Care Act (ACA).
The Maryland Insurance Administration provided example 2014 monthly rates of nine proposed carriers for residents living in the Baltimore area. Premiums will vary depending on location.
For a 25 year old non-smoker enrolled in a bronze level plan: $124 per month.
For a 50 year old non-smoker on a silver level plan: $267
A report by the Maryland Health Connection compares its proposed premium rates to rates of 12 other states with available rate data:
A 50 year old resident enrolled in a silver plan in New York has an approved rate of $319 per month, while the same resident in Maryland has an approved rate of $260 -$269 per month. This is18% less in premium cost.
The smallest premium on a bronze plan for a 25 year old in Maryland is $114, compared to $134 in Virginia, $146 in Colorado, $163 in Ohio, $167 in Washington State, and $174 in California.
In addition, the Hilltop Institute estimates that three out of four residents purchasing health insurance through the marketplace will be eligible to receive a premium tax subsidy on th
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