Thankyou pichas for showing interest in helping me out. I am sorry for not being clear. I believe the insurance is mandatory only for me but I also believe that it is a good idea to have insurance for my wife too who will be accompanying me. I have posted the information from my school's website below.

Individual:  $256.00
2-Party:     $632.50  
Family:      $845.00 

Requirements
All full-time and international students are required to purchase health insurance.  To opt out of purchasing the students need to provide proof of comparable coverage.  Comparable coverage would need to provide a minimum of $250,000 US in coverage for all medical costs and allow the student to use the insurance in the State of Maryland.   Students will need to show proof that they have purchased a comparable insurance policy (i.e. ID card with effective date or other documentation with their name it).