MD Insurers, As Anticipated, Scrap Plan To Dramatically Hike Rates Now That Reinsurance In Place

Following CMS’ approval of Maryland’s reinsurance program, several Affordable Care Act insurers in the state are now seeking large price decreases, marking the first time in four years that some state insurers have asked to reduce Obamacare premiums. Maryland premiums were expected to increase on average 30.2 percent for 2019 without the 1332 waiver, but are now expected to decrease 13.7 percent after the waiver’s approval, according to data from the Maryland Insurance Administration. The announcement came during a Sept...