Maryland Regulators Approve Premium Rates Much Lower Than Insurers Sought

Maryland insurance officials approved final rates for health plans to be sold in the state’s new online marketplace that are among the lowest in the country. The plans, which are for individuals, will be sold beginning Oct. 1. The Maryland Insurance Administration approved premiums at levels as much as 33 percent below what had been requested by insurance carriers. For a 21-year-old non-smoker, for example, options start as low as $93 a month. Insurance Commissioner Therese Goldsmith reduced the premium rates proposed by every insurance carrier in the individual market, including some by more than 50 percent, according to an…

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