MD, OR Cite Reinsurance As Key To Lower 2020 Proposed Rate Hikes

Maryland and Oregon have unveiled proposed rates for the 2020 plan year that indicate the markets are stabilizing despite ongoing uncertainty, and further show the ability of a reinsurance program to lower rates, officials in both states said. Maryland’s Insurance Administration last Friday (May 10) announced that issuers sought an average 2.9% decrease for the 202,000 residents enrolled in individual market plans. CareFirst BlueChoice, HMO proposed an 8.9% decrease, CareFirst of Maryland, Inc. sought a 9.1% increase and Kaiser Foundation...