With health law looming, one large insurer wants a 25 percent premium hike

Posted by Sarah Kliff and Sandhya Somashekhar on April 24, 2013 at 6:18 pm

Maryland’s biggest health insurer proposed raising premiums for individual policies by an average of 25 percent next year, saying that President Obama’s health law would require it to accept even the sickest applicants, driving up costs.

The CareFirst BlueCross BlueShield plan must be approved by the state, and officials immediately indicated that there would be close scrutiny of the double-digit boost.

Across the country, insurers are beginning to propose premiums for the plans they will offer on the health insurance exchanges — online marketplaces for individuals to compare and purchase policies — due to open for enrollment Oct.1. CareFirst’s move indicates major insurance companies will not shy away from proposing large premium hikes — and placing the blame on the new federal regulations.

Read full article here from The Washington Post