Under legislation passed by the Maryland General Assembly this year, Maryland will incrementally increase its minimum wage to $15 during the next seven years. The state’s current minimum wage is $10.10 per hour.
CareFirst made the change early, and said in a statement to the Baltimore Business Journal that it is “committed to paying competitive wages” and ensuring “the financial well-being of [CareFirst] employees.”
In addition to the wage increase, CareFirst changed its employee benefit structure. Now, what employees pay for health benefits varies depending on compensation. This means executives and higher-paid employees will pay more for benefits than those who earn less.
More articles on payers:
CEO of Texas health insurer abruptly resigns
UnitedHealth posts $3.5B profit in Q1
Las Vegas hospital doesn’t contract with any payers
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