Maryland officials hold hearing on health insurance rates
BALTIMORE (AP) — Maryland officials are holding a hearing on proposed premium rates for next year’s health insurance plans under the Affordable Care Act that are sold directly to individuals.
Maryland Insurance Commissioner Al Redmer is holding the hearing Monday in Baltimore.
Maryland’s two providers on the insurance exchange for individual plans in Maryland have proposed significant rate reductions. That’s after lawmakers and Gov. Larry Hogan approved a reinsurance plan that also has received federal approval. It was aimed at rescuing the health insurance exchange that faced steep price increases.
CareFirst BlueCross BlueShield is proposing a decrease of 22.3 percent and Kaiser Permanente is proposing a 7.8 percent reduction. The rates still need approval by the state insurance administration.