Low Cost Massachusetts Health Insurance

Every state has different laws that protect its citizen and these laws must be adhered to. If you happen to live in Massachusetts, you must have heard about the Health Reform Act of 2006 wherein all state residents who are 18 years old and above would have to get a low cost Massachusetts health insurance. Those who wouldn’t comply with this newly passed bill will have to pay additional taxes as penalty. Residents both expressed positive and negative feedback. However, there are some exemptions from this bill: first is the resident’s capacity to pay for their monthly premium; second is financial hardships and then third, religious objection.

Commonwealth Connector Affordability and Penalties
The state of Massachusetts has an affordability tool that they can use to know how much they should be able to pay for health coverage premium, in consideration to the size of the family and the household income. The Commonwealth connector affordability would determine which plan would work for you, it is also a tool used by the agency to know whether you would have to pay for penalties in case you did not avail a health plan according to the bill. If you are a resident of Massachusetts and are earning less than 150% of the FPG or the Federal Poverty Guidelines, then you will not be required to pay for the penalty. Otherwise, the penalty would be charged upon you. The penalty is one half the cost of the minimum Commonwealth choice coverage for that individual; it will be computed according to your age and income. It will be also assessed on a monthly basis.

It is also stated that all employers in Massachusetts with a minimum of eleven full time employees must set up a plan, giving their employees a chance to purchase a health insurance coverage; they will also be required to pay a fair share of their employee’s monthly premiums. If for any reason they did not meet these requirements, the employer would be required to pay for a fair share contribution of about $295 a year for each of their employees.

Knowing Whether You Are required to Avail a Health Insurance Policy
If you have graduated from high school and are considering getting a job, you are required to have a health insurance plan, although in almost all cases, parents should have employer coverage. Their children are usually covered, if this is not the case, you should consider it, because it would be way cheaper to avail this because your parent’s employer usually bear a substantial amount on the monthly premiums.

If you are entering college in Massachusetts, you can avail a low cost Massachusetts health insurance policy for students who are not covered by their parent’s insurance plan. The amount of the premium would total to about $850 a year, which is 82% cheaper than other insurance types but if you are working as part time student, you may not be eligible for this.

In cases wherein parents are laid-off and the company where your parents used to work for is still in business, you would be able to avail the COBRA benefits. This benefit will allow you and your parents to go under government health insurance coverage up to 18 months after being laid off.

If you are jobless and are a graduate of the Massachusetts College, you will be offered an alumni member insurance policy which will cover your health insurance for six months and even longer. This is cheaper than getting an individual policy, but if you’ve reached the age of 25, you may not be eligible for this insurance as well as in your parent’s health insurance coverage.

If you are self employed, an individual insurance policy that costs about $40 to $70 monthly premiums may be availed. There are a lot insurance companies that target young folks with their low cost Massachusetts health Insurance, however, such insurance may be limited and you would have to pay for an additional premium for additional policy coverage.

You may have noticed that getting a group insurance is the best low cost Massachusetts health insurance coverage. So if you are looking for the best insurance coverage, try looking for the loophole where your case would fit. Insurance coverage is not something that you should run away from, we all know that accidents happen when we least expect it and insurance coverage will keep you protected.

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