Insurance companies propose rate hikes after subsidies cut

BALTIMORE (AP) - The Maryland Insurance Administration is going to consider new premium rate hikes proposed by health insurance companies.

The Baltimore Sun reports the agency will hold a public hearing on Monday to discuss the matter. The insurance companies are asking to raise rates following President Donald Trump's decision to eliminate Affordable Care Act subsidies that help low-income people.

The increases would vary by plan. But some consumers could see premiums rise by as much as 86 percent if requests are approved. The regulatory agency typically doesn't approve exact requests.

CareFirst BlueCross BlueShield and Kaiser Permanente of the Mid-Atlantic States are requesting increases. They would be for individual plans sold under Obamacare.

The insurers have said they need to raise premiums to replace funds they would have received from the federal government.

© 2017 Associated Press


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