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Zane Benefits Publishes New Information on Maryland Health Insurance Exchange Rates

Park City, Utah (PRWEB) August 23, 2013

Today, Zane Benefits, the number one online small business health benefits solution, published new information on Maryland Health Insurance Exchange rates.

According to Zane Benefits’ website, the Maryland Health Connection recently released approved insurance premium rates, which they claim are among the lowest rates that have been released so far. The plans for which these premium rates represent will be offered via their state marketplace starting October 1, 2013 as part of the Affordable Care Act (ACA).

The Maryland Insurance Administration provided example 2014 monthly rates of nine proposed carriers for residents living in the Baltimore area. Premiums will vary depending on location.

For a 25 year old non-smoker enrolled in a bronze level plan: $124 per month.

For a 50 year old non-smoker on a silver level plan: $267

A report by the Maryland Health Connection compares its proposed premium rates to rates of 12 other states with available rate data:

A 50 year old resident enrolled in a silver plan in New York has an approved rate of $319 per month, while the same resident in Maryland has an approved rate of $260 -$269 per month. This is18% less in premium cost.

The smallest premium on a bronze plan for a 25 year old in Maryland is $114, compared to $134 in Virginia, $146 in Colorado, $163 in Ohio, $167 in Washington State, and $174 in California.

In addition, the Hilltop Institute estimates that three out of four residents purchasing health insurance through the marketplace will be eligible to receive a premium tax subsidy on their plan, further lowering their cost. There will also be opportunities for low-income Marylanders to reduce deductibles, cost sharing, and out-of-pocket caps.

Maryland attributes the insurance commissioner’s aggressive negotiation of rates as reason for their relatively low costs. According to their report, the insurance commissioner was able to reduce most premium rates by more than 50%.

They also attribute the way in which Maryland is planning to handle risky consumers next year. The state is keeping their high-risk pool open for people with pre-existing conditions who don’t want to change coverage. This way the sick population will stay out of the health insurance marketplace, and insurers take this into account when proposing their premium rates.

Along with lower premiums Maryland provides the following key features of their plans:

Comprehensive care, including coverage of essential health benefits;

Recommended preventive services, available free of charge;

A cap on out-of-pocket expenses;

No lifetime or yearly dollar limits on coverage;

For the first time in the individual market, no Marylander can be rejected for coverage on the basis of his or her health status.

Click here to read the full article.

About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to small businesses and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit

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