How insurance rates compare under Maryland health exchange

Sep 17, 2013, 2:16pm EDT Updated: Sep 17, 2013, 3:00pm EDT

How insurance rates compare under Maryland health exchange

The Maryland Insurance Administration released Tuesday rates for the 13 insurance carriers that under to offer coverage under the state’s new health exchange.

Sarah Gantz

Reporter- Baltimore Business Journal

The Maryland Insurance Administration released rates Tuesday for the health plans that 13 carriers want to offer to small businesses through Maryland Health Connection beginning Jan. 1. Compared to similar plans this year, rates for these 2014 plans range in price from 4.9 percent less to 14.6 percent more. The rates approved reflect the total cost of coverage for an employee that would be shared between the worker and business.

The rates approved by the insurance administration are, for the most part, fairly close to the rates insurance companies proposed. UnitedHealthcare is an outlier — rates for its small group exchange plans were set about 17 percent lower than the insurer requested.

Here are the average rates approved and how those rates compare with the insurers’ proposed rates:

  • Kaiser Foundation Health Plan of the Mid-Atlantic: $312, 0 percent
  • Aetna Health Inc.: $349, -6.8 percent
  • Coventry Health Care of Delaware Inc.: $347, -2.1 percent
  • Evergreen Health Cooperative: $368, -7.8 percent
  • Coventry Health and Life Co.: $388, 9.2 percent
  • UnitedHealthcare of the Mid-Atlantic Inc.: $404, -17.1 percent
  • Aetna Life Insurance Co.: $405, 0.5 percent
  • CareFirst BlueChoice Inc.; $418, -1.6 percent
  • UnitedHealthcare Insurance Co.: $447, -17.1 percent
  • MAMSI Life and Health Insurance Co.: $451, -17.1 percent
  • Optimum Choice Inc.: $490, -17.1 percent
  • CareFirst of Maryland Inc.: $562, 1.4 percent
  • Group Hospitalization and Medical Services Inc.: $562, 1.4 percent

Kevin Wrege, Esq.

Founder & President

Pulse Issues & Advocacy LLC

Office: 202-625-1787

Mobile: 202-253-4929

4410 Massachusetts Ave., NW, #150

Washington, DC 20016

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