Public Invited to Submit Comments
BALTIMORE – Health insurance carriers are seeking a range of changes to the premium rates they will charge consumers for plans sold in Maryland’s individual and small group markets in 2018. The Maryland Insurance Administration has posted rate filing documents at www.healthrates.mdinsurance.state.md.us. On that website, consumers can review filings and submit comments, as well as find answers to frequently asked questions about the rate review process.
“It’s important to remember that these rates are what companies have requested, and not necessarily what will be approved,” said Insurance Commissioner Al Redmer, Jr. “There will be a thorough review of all the filings. As in years past, we may require changes.”
In Maryland, only those rates approved by the Insurance Commissioner may be charged to policyholders. Before approval, all filings undergo a comprehensive analysis of the carriers’ statistics and assumptions. Public comments are considered as part of the review process. By law, the Commissioner must disapprove or modify any proposed premium rates that appear to be inadequate or excessive in relationship to the benefits offered, or are unfairly discriminatory.
The following companies selling individual and small group plans have filed to participate as follows:
| Company Name | Type of Network | Avg. Rate Increase Requested | Min. Rate Increase Requested | Max. Rate Increase Requested |
|---|---|---|---|---|
| CareFirst Blue Choice, Inc | HMO | 50.40% | 45.20% | 57.10% |
| CareFirst of Maryland Inc. and Group Hospitalization and Medical Services Inc. (GHMSI) (both CareFirst companies) | PPO | 58.80% | 53.40% | 67.90% |
| Cigna Health and Life Insurance Co. | PPO | 37.26% | 16.06% | 150.83% |
| Evergreen Health, Inc. | HMO | 27.80% | 27.12% | 36.65% |
| Kaiser Foundation Health Plan of the Mid-Atlantic States | HMO | 18.08% | 9.13% | 90.90% |
For comparison purposes, below are the proposed monthly premium rates, before any subsidies, for a 40-year-old non-smoker in the Baltimore metropolitan area who buys the lowest-cost silver plan.
| Company Name | Type of Network | Monthly Premium Amount |
|---|---|---|
| CareFirst BlueChoice, Inc. | HMO | $518.59 |
| CareFirst of Maryland Inc. and Group Hospitalization and Medical Services Inc. (GHMSI) (both CareFirst companies) | PPO | $714.95 |
| Cigna Health and Life Insurance Co. | PPO | $565.55 |
| Evergreen Health, Inc. | HMO | $403.16 |
| Kaiser Foundation Health Plan of the Mid-Atlantic States | HMO | $359.25 |
In the small group market, the proposed rate changes are for plans that begin in the first quarter of 2018:
| Company Name | Type of Network | Avg. Rate Increase Requested | Min. Rate Increase Requested | Max. Rate Increase Requested |
|---|---|---|---|---|
| Aetna Health, Inc. | HMO | 17.50% | 1.60% | 38.60% |
| Aetna Life Insurance Co. | PPO | 7.20% | -0.70% | 29.00% |
| CareFirst BlueChoice Inc. | HMO | 3.10% | -4.30% | 5.10% |
| CareFirst of Maryland Inc. and Group Hospitalization and Medical Services, Inc. (both CareFirst companies) | PPO | 2.90% | 0.60% | 4.50% |
| Evergreen Health, Inc. | HMO | 8.12% | -7.45% | 12.78% |
| Kaiser Foundation Health Plan of the Mid-Atlantic States Inc. | HMO | -2.70% | -11.00% | 12.60% |
| MAMSI Life and Health Insurance Co. (a UnitedHealthCare company) | EPO | 10.60% | -2.9% | 16.20% |
| United Healthcare Insurance Co. | PPO | 10.60% | -11.60% | 14.90% |
| UnitedHealthcare of the Mid-Atlantic | HMO | 12.90% | 1.70% | 15,80% |
| Optimum Choice (a UnitedHealthCare company) | HMO | 12.90% | 1.20% | 18.60% |
For comparison purposes, below are the proposed monthly premium rates, before any employer contributions, for a 40-year-old non-smoker in the Baltimore metropolitan area who buys the lowest-cost silver plan.
| Company Name | Type of Network | Monthly Premium Amount |
|---|---|---|
| Aetna Health, Inc. | HMO | $429.06 |
| Aetna Life Insurance Co. | PPO | $438.09 |
| CareFirst BlueChoice Inc. | HMO | $310.98 |
| CareFirst of Maryland Inc. and Group Hospitalization and Medical Services, Inc. (both CareFirst companies) | PPO | $367.22 |
| Evergreen Health, Inc. | HMO | $317.61 |
| Kaiser Foundation Health Plan of the Mid-Atlantic States Inc. | HMO | $242.04 |
| MAMSI Life and Health Insurance Co. (a UnitedHealthCare company) | EPO | $314.70 |
| United Healthcare Insurance Co. | PPO | $319.54 |
| UnitedHealthcare of the Mid-Atlantic | HMO | $258.14 |
| Optimum Choice (a UnitedHealthCare company) | HMO | $286.78 |
The rates being reviewed by the Maryland Insurance Administration do not affect health insurance plans offered by large employers, self-insured plans, “grandfathered” plans purchased before March 2010, or federal plans such as Medicare, Tricare and federal employee plans.
The Maryland Insurance Administration expects to issue decisions about rates for 2018 individual and small group products in late summer.
About the Maryland Insurance Administration
The Maryland Insurance Administration is an independent State agency charged with regulating Maryland’s $28.5 billion insurance industry. For more information about the Insurance Administration, please visit www.insurance.maryland.gov or follow us on Facebook at www.facebook.com/MDInsuranceAdmin or Twitter at @MD_Insurance.
In 2017 carriers were granted MORE than they asked for from the state.
ReplyDeleteThanks Maryland and those Democrats that were looking out for their citizens and not their lobby money deep pockets!
Politicians keep saying they will make healthcare more affordable. Once these insurance companies have jacked up these prices, they are never going to lower them. How do policitians think they will make it more affordable unless they tell the insurance companies to quit raising premiums?
ReplyDeleteAnd does anybody think that Maryland will opt out of any of the coverage requirements when congress finally passes a bill?
ReplyDelete11:43 AM maryland already covered pre=existing so there is nothing else to opt out of. And it was affordable back then. So all this bla bla bla about requirements is BS
ReplyDeleteWell, insurance commissioners better wise up. Carefirst had 38% increase for 2017. Why need 50 some % increase, or any for that matter, for 2018?
ReplyDelete