CareFirst BlueCross BlueShield proposed monthly premiums averaging more than 50 percent higher for 2018 than for 2017, in filings to the Maryland Insurance Department for the online health insurance marketplace under the Affordable Care Act.
The three other companies offering coverage in Maryland’s online/individual market, CIGNA, Kaiser Mid-Atlantic, and Evergreen Health, applied for substantial but smaller 2018 rates that average 37.4 percent, 18.1 percent, and 27.8 percent, respectively.
CareFirst has the largest market share by far over the company’s Maryland, D.C., and Northern Virginia market area, said the company’s CEO, Chet Burrell. It covers two out of every three people in that area with coverage purchased through the ACA online exchanges.
The public may comment online about the proposed rate increases through June 20. The Maryland Insurance Department will hold a public hearing on the proposals on June 21 at its offices in Baltimore. Insurance Commissioner Al Redmer, Jr., said the agency would make a decision by late summer. The ACA requires the agency to approve rates that are adequate to meet the costs of the coverage.