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July 29, 2013 at 01:43 PM
The Maryland Insurance Administration is telling some carriers that want to sell coverage through its individual exchange program to make deep cuts in their premiums.
Agency officials have summarized the cuts they have demanded in a report on approvals of premium rates for the individual “qualified health plans” to be sold through the state’s Patient Protection and Affordable Care Act exchange, the Maryland Health Connection.
In the bare-bones, “bronze level” of coverage, for example, the monthly premium rates originally requested for a 25-year-old nonsmoker living in Baltimore ranged from $136 to $350.
The rates approved in that category of coverage range from $124 to $237.
The rate reductions demanded range from 1.1 percent for a QHP to be sold by a unit of Kaiser Permanente to 32 percent for a QHP to be sold be a unit of UnitedHealth Group Inc.
Agency officials asked for similar rate reductions at other levels of coverage and in other communities.
