The effort to scale back is a result of cost cutting, according to the Sun.
Hopkins Health Advantage MD blamed the state’s payment model, which provides between 5 and 10 percent less funding for plans than the rest of the country.
“This underfunding is exacerbated in some regions where health risk is higher, which has caused several Maryland Medicare Advantage plans to leave the state entirely in recent years and Advantage MD to reduce its footprint,” Hopkins Health Advantage MD told the Sun. “Maryland’s regulators have worked diligently and collaboratively to solve this issue but there is not yet a solution in place.”
The move will go into effect Jan. 1, 2022, but the insurer will continue to offer coverage to 10 Maryland counties.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.