BALTIMORE —Maryland's largest health-insurance provider has upped its rate-increase request with the state.
The rate consumers pay for health insurance isn't a random number set by an executive. It's settled on after a complicated process between the state and insurers every year.
During a hearing on the matter Monday before the Maryland Insurance Administration, the CEO of CareFirst defended his company's revised May filing for insurance plans people buy under the Affordable Care Act.
For individual plans, for example, CareFirst now wants to charge 27.8 percent more for its HMO and 36.6 percent more for its PPO. That's on top of an average 22.9 percent rate increase from the year before, and it tops nearly all other rate changes proposed by carriers in Maryland's individual market.