ANNAPOLIS (WUSA9) -- Maryland officials have approved the health plan rates that people looking for insurance coverage will find in the state's new exchange.
Maryland is the 12th state to propose or approve rates for health plans. The plans will begin being sold starting October 1st, with coverage starting January 1st.
The state's insurance commissioner says its rates are among the lowest in the nation so far. For example, the rates proposed by CareFirst Blue Cross/BlueShield were cut in half.
Officials also estimate 3 out of 4 state residents will be eligible for tax credits, which will help lower the costs even more.
So far, 9 insurance carriers have been approved for the health insurance marketplace in Maryland.