New Health Insurance Plans for Small Business Approved in Maryland
BALTIMORE (AP) - State health officials have approved 13 carriers to sell health benefit plans to small businesses through the new exchange.
The Maryland Insurance Administration also approved premium rates on Tuesday for the plans to be sold through Maryland's Small Business Health Options Program Exchange.
Officials say the premium rates approved for 2014 range from 4.9 percent lower to 14.6 percent higher than existing rates for the carriers' small business products.
Next year, small businesses buying plans through Maryland Health Connection may be eligible for federal tax credits that will lower premium costs.
Enrollment in the exchange opens Jan. 1, with coverage beginning on or after March 1.