Health insurer Aetna has opted not to sell coverage through Maryland's health insurance exchange after regulators reduced proposed premiums, according to a report from The Baltimore Sun.
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
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Aetna, Coventry Drop Out of Georgia Health Insurance Exchange
