Md. agency approves higher health insurance rates

(AP) – Maryland residents purchasing individual health insurance coverage under the Affordable Care Act can expect to pay higher premiums next year.

The Maryland Insurance Administration on Wednesday approved rates increases that are expected to affect roughly 96,000 people who buy silver plans through the state's health insurance exchange.

The administration approved a 27 percent increase for CareFirst BlueCross Blue Shield for its HMO plan and a 24 percent increase for its PPO plan. That's on top of a 31.4 percent increase approved for HMO plans and a 52.1 percent hike for PPO plans approved in August.

A 20.7 percent increase has been approved for Kaiser Permanente.

The agency reopened rates earlier this month, after the announcement that federal cost-sharing reduction reimbursements would not be paid to carriers in 2018.