CareFirst BlueCross BlueShield raised its minimum wage to $15 per hour ahead of a new Maryland law that will require businesses to do the same by 2026, according to the Baltimore Business Journal.
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.
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