Health Insurance Hikes for Maryland Individual Policy Holders

Published On: 11/02/2018

Health Insurance Hikes for MDMaryland and Virginia are the first states to announce the rates filed by insurance companies for 2019 plans and it’s looking like large hikes are coming our way. New obstacles resulting from the Affordable Care Act, including the zeroed-out mandate penalty and the potential influx of sparse insurance policies, are causing health insurers to raise prices on individual policies.

In Maryland, the average rate appears to increase about 30% for 2019 coverage. Maryland Insurance Commissioner, Al Redmer, claims that those rates could come down if the federal government approves Maryland’s application for a 1332 waiver and reinsurance program to subsidize the medical claims of high-cost patients. Rates in Maryland could be reduced by as much as 20% to 30% if a reinsurance program is approved.

With over 200,000 Maryland residents on individual health care plans, this rate hike could have a significant impact. For the aging population, Medicaid planning and other asset protection tools will need to be employed to ensure access to proper health care. For assistance, contact Stouffer Legal at 443-470-3599 in the Greater Baltimore area.

To learn more or get started on your estate plan, just schedule a time to visit us for a no obligation complimentary consultation.

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Britt Stouffer

Britt L. Stouffer is a Maryland attorney experienced in Estates, Trusts, and Elder Law. With over 10 years of experience in Estates and Trusts, she has learned to appreciate how unique each client truly is. On a typical day, you will find her working on Wills, Revocable Living Trusts, Powers of Attorney, Advance Medical Directives, Tax Planning cases, Estate Administration filings, Petitions for Guardianships, Special Needs Planning, and Asset Protection.

658 Kenilworth Dr., Ste. 203, Towson, MD 21204

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