| BALTIMORE — Maryland Insurance Commissioner Al Redmer, Jr. will hold a public hearing on health insurance companies’ proposed amended premium rates for 2018 health insurance plans in the individual non-medigap market. This quasi-legislative hearing, scheduled from 9 am – 11 am on Monday, October 23, 2017 at the Maryland Insurance Administration’s office will focus on plans sold to individuals. Plans can be bought direct from the carrier, through a producer or via the Maryland Health Connection. Two carriers offer plans in this market: CareFirst and Kaiser. The rates for the small group market have not been amended.
“In light of the recent announcement that cost-sharing reduction payments would be eliminated, we have been busy taking a look at the impact on individual health insurance rates approved in August. We have asked the carriers to submit amended rate filings for these plans and we want to have a public forum to discuss the amended rate filings with all of the key stakeholders,” said Commissioner Redmer. “We want to take into consideration all stakeholder perspectives before we make any final decisions. As regulators, we cannot allow insurers to sell a product below the amount needed to sustain their business nor can the rates be discriminatory or excessive. Our highest priority is protecting Maryland consumers impacted by this change.”
Any interested party is invited to attend the public hearing. Time limits may be imposed for oral testimony, depending on the number of people who attend. The Maryland Insurance Administration is located at 200 St. Paul Place, Baltimore, Md., 21202. The public hearing will be held in the Hearing Room on the 24nd floor. For those individuals who are unable to attend in person, the Administration will have a conference call line available. The number is 866-247-6034 and the passcode is 1573490062.
Written testimony may be submitted by emailing healthinsuranceratereview.mia@maryland.gov or by faxing 410-468-2038 or by mailing the Maryland Insurance Administration, 200 St. Paul Place, Suite 2700, Baltimore, Md. 21202 attention: Nancy Muehlberger, Office of the Chief Actuary.
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.
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