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.
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