Marylanders to see premiums drop 13% on average for 2019 ACA plans

Maryland’s Affordable Care Act health insurance plans will see a 13 percent average price drop in 2019, marking the first decrease since the enactment of the federal health care law.

Over the past four years, consumers who have had to purchase individual health plans on the state’s ACA exchange have seen big hikes in their premium costs. Next year, thanks to a new reinsurance program born out of bipartisan legislation passed by the Maryland General Assembly, those consumers will get a reprieve. There are about 200,000 Marylanders currently covered under exchange plans.

The Maryland Insurance Administration announced final rates Friday for the two companies selling individual insurance plans of the exchange, CareFirst BlueCross BlueShield and Kaiser Permanente. Here’s what 2019 premium rates will look like:

CareFirst’s individual HMO members will see a 17 percent premium decrease. That will make the average premium price for a 40-year-old non-smoking Baltimorean about $626, down $60…

Read the full story from the Washington Business Journal.