Maryland Officials Announce New Health Insurance Rates - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Maryland Officials Announce New Health Insurance Rates

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ANNAPOLIS, Md. (AP)- Maryland officials are announcing new premium rates for small group and individual health insurance plans, and critics are highlighting some substantial increases that have been approved.
The Maryland Insurance Administration announced the new rates Friday for coverage beginning in 2016.
The administration reviewed proposed increases by carriers, who submitted their proposals in May. In total, the administration says rates are about $66.4 million less than what insurers proposed.
But critics pointed to increases of between 19 and 26 percent in individual insurance rates for CareFirst, which is the state's largest insurer for the state's health exchange. CareFirst had requested increases as high as 30.4 percent.
The administration says insurers sought rate adjustments in response to significant changes in regulation and market dynamics over the last two years.

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