Aetna informed Maryland Insurance Commissioner Therese Goldsmith the reduced rates wouldn’t allow the insurer to cover the cost of the plans, according to the report. The state’s insurance administration announced in July that it used its rate review authority to reduce proposed premiums from insurers by as much as 33 percent.
Aetna subsidiary Coventry Health Care in Bethesda, Md., has also dropped out of the Maryland exchange. State officials say the loss of the two health insurers isn’t expected to significantly reduce the coverage options available through the exchange, according to the report.
More Articles on Health Insurance Exchanges:
Aetna Opts Out of Connecticut Health Insurance Exchange
UPMC, Geisinger, Highmark Seek to Sell Plans in Pennsylvania Exchange
Aetna, Coventry Drop Out of Georgia Health Insurance Exchange
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