Aug 29, 2017

Maryland ACA insurance rates to rise 33 percent

AP file photo

Maryland insurance regulators knocked down the rate increases insurers wanted to charge for Affordable Care Act coverage next year — but not by much. They wanted an average premium increase of 43%. What did they get? 33%.

Why it’s happening: The Maryland Insurance Administration said the rates for the two individual market insurers — CareFirst and Kaiser — aren’t rising because of the uncertainty over whether they’ll keep getting their cost-sharing reduction payments. Instead, the main reasons were the return of the ACA tax on health insurers, healthy customers leaving the market, the rising cost of medical claims, and more claims than expected.

Why it matters: Maryland is a state that has generally supported the ACA and tried to make it work. It’s also significant that they’re not blaming the Trump administration and Congress for their actions against the law.

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