The Maryland Insurance Administration has approved premium rates for 2017 small group and individual health insurance plans, and the good news is that rates for small group markets are only increasing by single digits — and some are going down.
The not-so-good news is that rates for individual plans are going up by 20 percent to 30 percent.
Maryland Insurance Commissioner Al Redmer said last week during an interview with Herald-Mail Media that the small-market rates are for employers with two to 50 employees, and affect about 4.1 percent of Marylanders. Rates in the small group market are going up by an average of 3.3 percent, with several United Healthcare plans actually going down.
A few carriers, such as CareFirst of Maryland and Evergreen Health Cooperative, were approved for rates higher than they requested. Redmer said that's because the state is required to approve rates based on several criteria: