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Md. benefit exchange approves plan on risk adjustments
The board of the Maryland Health Benefit Exchange voted Friday on a solution to an issue where the state’s new reinsurance program could cause duplicative payments under the Affordable Care Act’s risk adjustment program. Kaiser Permanente, one of the state’s two insurers on the individual market, had expressed concern that it would bear the brunt […]
Maryland regulator evaluating CMS risk adjustment decision
Maryland health insurance stakeholders face some questions after the federal Centers for Medicare and Medicaid Services said over the weekend that it would stop collecting and making risk adjustment payments in light of contradictory federal court decisions. Maryland Insurance Commissioner Al Redmer said at this point there is some uncertainty as to how the decision would affect […]
Evergreen to liquidate after no new investors found
Evergreen Health will be liquidated and its enrollees will have to find new insurance plans by the end of September, a Baltimore City judge ruled last week. Judge Yolanda Tanner also ordered a 30-day special open enrollment period for the month of September. Aetna, CareFirst, Kaiser Permanente and UnitedHealthCare will all participate in this enrollment […]
Significantly higher insurance premiums approved for 2018 on Md. health exchange
Marylanders insured through the individual health exchange will see substantially higher premiums in 2018, though not as high as insurers wanted, after Maryland Insurance Commissioner Al Redmer approved final rates Friday. Redmer approved average rate increases of 34.5 and 50 percent for CareFirst’s HMO and PPO plans, respectively. CareFirst had asked for increases of 50 […]
Beilenson out at Evergreen as health insurer enters receivership
Dr. Peter Beilenson has resigned as CEO of Evergreen Health as the company entered court-ordered receivership. Beilenson had founded the insurer as an Affordable Care Act co-op. He attempted to take the company private as part of a bid to save it from unaffordable risk adjustment payments, but lost the investors when this year’s risk […]
Evergreen’s demise creates possibilities for new insurers in Md.
New companies looking to enter the Maryland individual insurance market could find an easier path with the collapse of Evergreen Health this week. Any new Maryland carrier would have to build infrastructure in the state before selling plans. That infrastructure includes creating a provider network, a distribution channel and product and pricing models. Evergreen’s assets […]
Evergreen’s demise leaves two insurers on Md. health exchange
Maryland’s individual health exchange will only have two insurers next year after a deal to buy Evergreen Health fell apart this week, leading the state’s insurance regulator to freeze its assets. Anne Arundel Health System, LifeBridge Health and JARS Health Investors received approval from the Maryland Insurance Administration last month to purchase Evergreen as it […]
Evergreen and Kaiser make case for higher premiums in Md.
Evergreen Health and Kaiser Permanente made their case for health insurance rate increases at a Maryland Insurance Administration hearing Monday, citing high costs, CareFirst’s rate increase request of 50 percent and federal discussions around health care. Initially, Evergreen and Kaiser had filed for lower rate increases, 28 percent and 18 percent, respectively. But the companies […]
Turmoil on Maryland’s health insurance exchange
One Maryland insurer dropped out of the Maryland individual health insurance market, another projected double-digit enrollment declines and two more refiled to ask for rate increases higher than previously requested as state regulators Wednesday found themselves dealing with dramatic changes on the health exchange. Cigna, which covers 630 consumers in Maryland through the individual market, dropp[...]
Evergreen Health can become for-profit insurer, Md. regulator says
Maryland Insurance Commissioner Al Redmer Wednesday approved Evergreen Health’s application to convert from an insurance co-op to a for-profit insurer. The sale of Evergreen to Anne Arundel Medical System, JARS Health Investors and LifeBridge was also approved by the commission. “This is a positive step forward for Evergreen Health, their 65 employees and the consumers […]
Md. insurance regulator hears Evergreen’s case to become for-profit
Evergreen Health and its investors made their case in a public hearing Wednesday that converting the Affordable Care Act co-op into a for-profit health insurance provider would be in the public interest. Maryland Insurance Commissioner Al Redmer said he expected a final decision on Evergreen’s conversion application by the end of next week after a final […]
Rate hike requests will test future of Md. health insurance exchange
High rate increase requests have left health insurance regulators in Maryland with this challenge: At a time when insurers are pulling out of the individual markets in state after state, how high can you allow them to raise their prices without inflicting steep hikes on consumers? Maryland Insurance Commissioner Al Redmer will have the final say on […]
