On Friday, August 22nd, the Maryland Insurance Administration released the final insurance rates for individuals buying health insurance plans under the health exchange. In early June of this year, CareFirst proposed drastic premium increases of 23 – 30 percent; fortunately for individual consumers, CareFirst will only be allowed an increase of 9.8 – 16.2 percent. Meanwhile, Kaiser Foundation Health Plan, Evergreen Health Cooperative & other carriers rates will decrease between 6.7 – 14 percent. Cigna & UnitedHealthcare rates are not projected to change. These rates go into effect on January 1, 2015.
If you would like to check out how Maryland’s 2015 premium rates stack up against the rest of the nation, check out this interactive premium map created by the PwC Health Research Institute.