Letter to the Hon. Steven Mnuchin, Secretary of the Treasury, and the Hon. Alex Azar, Secretary of Health and Human Services - Reduce Health Insurance Costs in Maryland

Letter

Dear Secretary Mnuchin and Secretary Azar,

We write to request that the U.S. Department of the Treasury and the U.S. Department of Health and Human Services grant Maryland's application for a Section 1332 State Innovation Waiver as soon as possible. We urge that this process include careful and thorough consideration of key stakeholder's input such as the Maryland Medical Society.

Earlier this year, the Maryland General Assembly voted to establish a state-based reinsurance program, the Maryland State Reinsurance Program. The Governor and both Democratic and Republican leaders strongly support this effort to address premium costs and access to affordable healthcare in our state. The Maryland Insurance Administration estimates that the State Reinsurance Program would lower premium rates market-wide by as much as 30 percent and would lead to a reduction in federal payments of advance premium tax credits. By contrast, without federal approval, rates for many individual market plans could increase substantially.

The matter is urgent because the Maryland Insurance Administration must finalize the approval of the individual market rates by September 1, 2018. Accordingly, on behalf of our constituents, we urge you to complete your consideration of Maryland's waiver application as soon as possible.

Sincerely,