August 24th, 2018 by WCBC Radio
Maryland officials have announced federal approval of what they are calling the nation's largest health reinsurance program to protect insurers from very high claims to hold down rates in the struggling individual market of the state's health care exchange. Republican Gov. Larry Hogan announced this week the federal Centers for Medicare and Medicaid Services approved a waiver needed for the program. Maryland will use about $380 million that health insurance companies no longer have to pay in federal taxes due to last year's changes to the federal tax code. Maryland also will receive federal matching money. Senate President Mike Miller said the goal is to supplement access and affordability for vulnerable populations like seniors who don't qualify for Medicare…
