ANNAPOLIS, Md. (WDVM) — For the third year in a row, Maryland has been able to lower individual insurance rates under the Affordable Care Act.
“While Washington continues to bicker back and forth about health care, we have delivered three consecutive years of lower premiums in Maryland,” said Governor Hogan. “Our innovative program to make health care more affordable continues to bring more stability and peace of mind to Marylanders, and serves as a model for the rest of the nation.”
According to the release, the lower rates show the help of the state reinsurance program that helps stabilize the individual insurance market.
In 2018, state leaders worked together to establish the program. That same year, health insurance rates were predicted to decrease by up to 50 percent.
“I am very pleased to be able to continue the downward trajectory in premium rates for the individual market,” Commissioner Birrane said. “Maryland’s innovative and bipartisan approach to stabilizing what had been a spiraling market has been incredibly successful, has benefited Marylanders, and become a blueprint for other states. Under Governor Hogan’s leadership, Maryland has been the thought leader and trendsetter in bringing rate relief to this market.”