ANNAPOLIS, Md. (AP) - Measures to help rescue the Maryland Health Care Exchange’s distressed individual market are moving forward in the General Assembly.
The Senate gave preliminary approval to two bills Friday.
One would tap about $340 million that health insurance companies and managed care organizations won’t have to pay in taxes due to the federal tax overhaul to keep costs down over the next year.
The other puts the state on a path for a long-term solution through reinsurance, which protects insurers against very high claims.
Similar measures also are advancing in the House of Delegates.
The House, Senate and governor’s office have been working closely on the legislation. Officials are concerned the exchange’s individual market could collapse amid shrinking enrollment and sharply rising costs, if nothing is done.
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