Obamacare insurers in the state of Maryland are set to raise certain premium costs by 91% in 2019; sparking renewed calls for a major overhaul of the US healthcare system as more companies drop out of the failing healthcare exchanges.
According to Fox News, healthcare providers in Maryland are poised to raise rates by 30% on average with some plans spiking by over 90%. The news comes just days after insurers in Virginia announced double-digit hikes throughout the state.
“Maryland Obamacare insurers CareFirst, BlueCross, and BlueShield plan to raise rates for an HMO plan on the law’s exchanges by 18 percent, and 91 percent for an extended network, or PPO, plan,” writes Fox.
The “death spiral” comes just months after congressional Republicans failed to “repeal and replace” the failing healthcare law and is raising new questions over the future of the Affordable Care Act.
Senator Chuck Schumer blamed the escalating costs on the GOP’s efforts to repeal the “individual mandate” that requires individuals to purchase healthcare or face still penalties.
“Republicans know they own the skyrocketing healthcare costs, but instead of working in a bipartisan fashion to lower the costs, they actively undermined our healthcare system and made the problem worse,” said Schumer.