Subscribe to this pageImage: /sa/images/govdelivery-sm.png

Health Insurance Rate Reviews

• Frequently Asked Questions about Health Insurance Rates and the Maryland Insurance Administration's Rate Review Process
  June 29, 2012

In Maryland, changes to health benefit plan rates in the small group and individual markets are reviewed by the Maryland Insurance Administration before they are put into place. As of July 1, 2012, health insurance companies must submit new consumer-oriented documents to the Administration about any rate changes in the individual market so that the public can make comments on the proposed rates. Insurance companies also must file this additional information if they propose a rate increase of 10 percent or more in the small group market. After Jan. 1, 2013, all rate change filing requests for small group products will be posted below.

Individual products are those that are not connected to job-based coverage. Many Marylanders are covered through an employer that is self-insured (for example, the State of Maryland, Verizon, Montgomery County Public Schools and General Motors). Self-insured plans and federal plans are not subject to review by the Maryland Insurance Administration.

Health insurance companies must justify proposed rates, which are subject to the Maryland Insurance Administration’s review and approval before any change can become effective. When a health insurance company submits a request that is open to public comment, consumers can read the company’s justification for the request and submit comments during a 30-day public review period.

 

To access proposed rate changes information in the individual market and rate increase requests of 10 percent or more, on average, in the small group market:

• Find the company name and product ID number in the chart below.
• Click on the product ID to read the insurer's request for a rate change.
• After reviewing the information, submit your comments by clicking the corresponding link in the chart. Comments must be submitted by the posted deadline.

 

Please note that rate change requests submitted to the Maryland Insurance Administration pertain to a base amount that a company would like to charge. This may not apply to a premium increase specific to your individual policy, which can be based on many other factors, including age, area, and health conditions. For detailed information about the rate review process and federal requirements, click here.