Md. Health Insurance Carriers to Drop 73K Members
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ANNAPOLIS, Md. — The Maryland Insurance Administration says carriers have notified the state that they plan to discontinue non-grandfathered individual health benefit plans affecting more than 73,000 members in Maryland next year.
Individual health insurance policies are being canceled for millions of people nationwide who buy individual insurance policies as federal health care reform requires plans to cover certain benefits. Policies are being discontinued because they don’t meet the higher benefit requirements of the Affordable Care Act.
The law also caps annual out-of-pocket costs consumers will pay each year.
People can buy different policies directly from insurers for 2014 or sign up for plans on the state’s insurance exchange.
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