Insurers in Maryland propose health insurance rate increases for next year

Insurers in Maryland propose health insurance rate increases for next year

Insurers in Maryland propose health insurance rate increases for next year Health insurers in Maryland have proposed rate increases for individual and small group plans under the Affordable Care Act (ACA) for 2017.

"It’s important to remember that these rates are what companies have requested, and not necessarily what will be approved," state insurance commissioner Al Redmer, Jr. said. "There will be a thorough review of all the filings. As in years past, we may require changes."

Under Maryland’s law, only rates approved by the insurance commissioner may be charged to policyholders. The commissioner is also allowed. The proposals will undergo thorough assessments analyzing the carriers’ statistics and assumptions. Public feedback regarding the planned rate is considered during the review process.

The following average rate changes were proposed for the individual market:
  • CareFirst BlueChoice Inc. – 12.4% increase
  • CareFirst of Maryland Inc. and Group Hospitalization and Medical Services Inc. – 16%
  • Cigna Health and Life Insurance Co. – 29.8%
  • Evergreen Health Cooperative – 8.1%
  • Kaiser Foundation Health Plan of the Mid-Atlantic States – 25%
The proposed average rate increases for the small group market are:
  • Aetna Health Insurance Inc. – 5%
  • Aetna Life Insurance Inc. – 5%
  • CareFirst BlueChoice Inc. – 3.9%
  • CareFirst of Maryland Inc. and GHMSI – 7.4%
  • Evergreen Health Cooperative – 3.7%
  • Kaiser Foundation Health Plan of the Mid-Atlantic States Inc. – 3%
  • MAMSI Life and Health Insurance Co. (a UnitedHealthCare company) – 0.1%
  • United Healthcare Insurance Co. – 0.1%
  • UnitedHealthcare of the Mid-Atlantic – 5.7%
  • Optimum Choice – 0/1%