Gov Hogan Announces Federal Approval of Maryland Reinsurance Waiver

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The federal government has approved Maryland’s 1332 State Innovation Waiver to create a state reinsurance program to help stabilize Maryland’s individual health insurance market and prevent previously predicted massive rate hikes. Maryland new reinsurance program will bring down the cost of health care insurance premiums in the state’s Affordable Care Act market. Governor Larry Hogan said those rates were projected to increase by 50% this year and 250,000 people were at risk of potentially losing coverage. The program will start by the end of next month and run through 2020, with the potential to be extended.