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  • Massachusetts Health Insurance Buyout Form

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Er Insured Name First MI Last State Zip Code Street Address City 1. I hereby elect a monetary allowance in lieu of a Group Insurance Commission sponsored group health insurance plan. I understand that the allowance will be paid monthly in twelve equal payments. I understand that I must be a state employee or retiree to receive these payments; municipal enrollees are not eligible. I understand that taxes will be withheld from these payments. 2. I was covered by a Group Insurance Commission.

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Introduction. The Massachusetts Health Care Reform Law requires that most residents over 18 who can afford health insurance have coverage for the entire year, or pay a penalty through their tax returns. ... You must be enrolled in health insurance plans that meet Minimum Creditable Coverage (MCC) requirements.

Massachusetts law requires you to have health insurance. To avoid a state tax penalty, adults 18 or older must have what the Massachusetts considers "minimum creditable coverage (MCC)" or prove eligibility for an exemption. The rule applies even if you are not required to pay state taxes.

The cheapest health insurance plan for most people in Massachusetts is the BMC HealthNet Plan Silver A II, which is the cheapest Silver policy in 71% of the state's counties. If you are looking for individual health insurance in Massachusetts, you can purchase cheap coverage through the state's online exchange.

Under the Massachusetts Health Care Reform Law, you'll be charged a tax penalty for each month of the year that you're without coverage if the state determines that you're able to afford health insurance but you didn't buy a plan. Individuals who fall below certain income thresholds are exempt, however.

Health insurance coverage is no longer mandatory at the federal level, as of January 1, 2019. ... Going without health insurance saves you money since you're not paying premiums, but it could put you at financial risk if you get injured or develop a serious illness.

UMMS offers a Health Insurance Buy-Out option to eligible state employees and retirees, which allows them to elect a monetary allowance in lieu of a Group Insurance Commission sponsored group health insurance plan.

Massachusetts residents can expect to pay an average of $183.36 per person* for a major medical individual health insurance plan. Prices will vary and premiums can be lower if you are in good health.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232