ANNAPOLIS, Md. — Maryland has approved an 11.9 percent average decrease in premiums for individual health insurance under the Affordable Care Act.
It's the third consecutive year Maryland has cut premiums, and this latest one is effective January 1, 2021.
Here's a breakdown of what it will look like.
|Company||Type of Network||Members as of 06/30/20||2021 Filed Renewal (5/1/20)||2021Approved Renewal||Difference (Approved – Filed)|
|CareFirst BlueChoice, Inc.||HMO||135,515||-1.1%||-11.9%||-10.8%|
|CareFirst of Maryland, Inc. and Group Hospitalization and Medical Services, Inc. (both CareFirst Companies)||PPO||11,936||-12.0%||-17.1%||-5.1%|
|Kaiser Foundation Health Plan of the Mid-Atlantic States, Inc.||HMO||65,132||-11.0%||-11.0%||0.0%|
|Optimum Choice, Inc.||HMO||N/A||N/A||N/A||-7.6%|
The MIA has approved the following premium changes in the small group market:
|Company Name||Type of Network||Members as of 06/30/20||2021 Filed Renewal (5/1/20-All Quarters)||2021 Approved Renewal (All Quarters)||Difference (Approved – Filed)|
|Aetna Health, Inc.||HMO||83||-7.7%||-16.8%||-9.1%|
|Aetna Life Insurance Co.||PPO||482||-9.0%||-14.7%||-5.7%|
|CareFirst BlueChoice, Inc.||HMO||169,820||6.0%||3.1%||-2.9%|
|CareFirst of Maryland, Inc. and Group Hospitalization and Medical Services, Inc. (both CareFirst companies)||PPO||21,296||1.8%||2.0%||+0.2%|
|Kaiser Foundation Health Plan of the Mid-Atlantic States, Inc.||HMO||10,755||-5.0%||-5.0%||0.0%|
|UnitedHealthcare of the Mid-Atlantic||HMO||4,745||8.3%||3.5%||-4.8%|
|Optimum Choice (a UHC company)||HMO||14,548||3.0%||-2.7%||-5.7%|
|MAMSI Life and Health Insurance Co. (a UHC company)||EPO||19,546||4.7%||1.0%||-3.7%|
|UnitedHealthcare Insurance Co.||PPO||21,748||9.8%||4.5%||-5.3%|