ANNAPOLIS, Md. (AP) — Maryland Gov. Larry Hogan has signed measures to help stabilize health insurance rates in the Maryland Health Care Exchange’s distressed individual market.

One of the two health care bills Hogan signed Thursday taps about $380 million that health insurance companies and managed care organizations no longer have to pay in federal taxes as a result of changes to the tax code to keep rates costs down over the next year.

The other bill moves the state toward reinsurance that would provide protection for insurers against very high claims. The state’s health care exchange has suffered from shrinking enrollment and sharp cost increases.

Hogan thanked legislators for working together to address the health care crisis. The two bills were among seven measures he signed Thursday, including budget legislation.

Follow @WJZ on Twitter and like WJZ-TV | CBS Baltimore on Facebook

(© Copyright 2018 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s