September 24th, 2018 by WCBC Radio
Individual health insurance rates for 2019 are going down, state officials announced on Friday. Officials credit the state's federal waiver, which creates a reinsurance program to help stabilize costs. The end result is premiums will go down 13.2 percent on average. The waiver passed the General Assembly, was signed by Governor Larry Hogan and approved by the Centers for Medicare and Medicaid Service late last month. Before the waiver, insurers called for an average rate increase of 30.2 percent. After the waiver, the rates ultimately approved by the Maryland Insurance Administration all have decreases ranging from 7.4 to 17 percent. In all, officials say the savings from the waiver program and regulatory review will put $481 million back in Marylanders' pockets. Hogan applauded the news at a morning press conference…
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