The cheapest policy available to a 25-year-old in Maryland will cost roughly $114 per month, according to the state’s rate filings. That’s among the cheapest rates in the country for a comparable policy, even though it still represents an increase compared with bare-bones policies on the market today.
I would categorize this as in the “good news” category, at least on the surface, for affordable health coverage. If your a “geek” or a “wonk” the rate filings link above makes for interesting reading.
I wonder the following:
- Are Marylands definitions of the 10 Essential Health Benefits (EHBs) less stringent than other states?
- Are all the assumptions mentioned in the rate filings document that led to the rate reductions valid?
We’ll find out when the insurance companies file rates for 2015. With hard data we’ll find out if the Maryland Dept. of Insurance’s big stick was right or if the insurance carriers have the data and are now carrying the big stick.