Health insurance premiums doubling

SALISBURY, Md. — The Health Insurance Marketplace has begun its annual open enrollment, but many Maryland residents are facing higher premiums. Health officials in the state say it’s the first time in years they’ve seen premiums increase by double digits.

According to the Maryland Health Benefit Exchange, there are two main reasons for the sharp rise. The first is that Congress has not extended the premium tax credit, and the second is the increasing cost of prescription drugs.

Michele Eberle, executive director of the Maryland Health Benefit Exchange, said premium rates across the board have increased by an average of 13.4%. “We haven’t seen it. As I said, it’s been about 6% on average,” Eberle said.

The need for healthcare is also rising, she said, as more people are opting for plans with pre-deductibles and no co-pays, which can help cover the cost of important exams like mammograms and colonoscopies.

“We’re hoping they’ll be able to afford it, with the state subsidy we’ve put in place,” Eberle said. “Those are real risks of people who have had coverage no longer being able to afford it. And as we know, without our health, nothing can happen. We can’t go to work, we can’t take care of our families.”

Eberle added that some Marylanders could see their premiums effectively double without state assistance. However, the state program could reduce the increase to about 35%.

Open enrollment for the individual marketplace runs through Jan. 15.