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CareFirst raises minimum wage to $15, introduces new employee benefits model

CareFirst BlueCross BlueShield has raised the minimum wage for all its employees to $15 per hour, a move that comes ahead of new requirements set to roll out statewide.

Maryland’s minimum wage will incrementally increase to $15 over the next seven years, following a piece of legislation passed by the Maryland General Assembly this year. Gov. Larry Hogan initially vetoed the passed legislation, but state Democrats quickly voted to override his decision. The state’s minimum wage is currently set at $10.10 per hour and will hit $15 by July 1, 2026.

CareFirst opted to make the hike early, though, saying it now recognizes a $15 per hour rate as a minimum living wage. The Baltimore-based insurer said in a statement it is “committed to paying competitive wages,” and ensuring “the financial well-being of [CareFirst] employees.”

In conjunction with the wage hike, CareFirst also introduced a new benefit structure for employees this month. The cost of health benefits will now vary depending…

Read the full story from the Washington Business Journal.