The deadline for Obamacare insurers to submit rate increases for next year has already arrived in some states, which means we’re beginning to get a look at how rate increases may be shaping up for 2018.
In Maryland, CareFirst Blue Cross Blue Shield, one of the largest insurers in the region, has requested a 58.8% increase in premiums for next year. The company has also requested a 35% increase in neighboring Virginia. Why the big jump? According to the company’s CEO, Obamacare appears to be in the early stages of a death spiral.