Thursday, June 22, 2017

Maryland Looking At High Premium Increases On Exchange As Cigna Drops Out

The Baltimore Sun  (6/21, Cohn) reports Cigna Health and Life Insurance Co. has decided to not sell plan on the exchange next year as CareFirst BCBS is proposing an average increase of 52 percent for its plans sold on the exchange. The other two remaining insureres on the Maryland exchange, Kaiser Foundation Health Plan and Evergreen Health, are seeking increases of about 25 percent and 65 percent respectively. The requested rate increases were made at a hearing held by the Maryland Insurance Administration.

These increases are being sought by insurance companies through the State of Maryland for Individual Medical Plans both on and off of the exchange.