First look at proposed 2019 health insurance rates
Health insurers recently submitted their 2019 premium rate requests to the Maryland Insurance Administration (MIA). The proposed rate changes are for plans sold in the state’s individual and small group markets and vary from -1.10% to 91.4%.
The MIA cautioned that the individual market proposals (which carry the steepest increases) do not reflect the state’s new reinsurance program. The program stems from House Bill 1795, passed this session, which allows the Maryland Health Benefit Exchange (MHBE) and Insurance Commissioner Al Redmer, Jr. to implement a reinsurance program to address the rate hikes. The MHBE will submit the reinsurance program application to the Centers for Medicare & Medicate Services later this month.