Maryland approves 13.4% average increase for 2026 individual plans; state subsidy and reinsurance will blunt the hit for lower‑income enrollees

Maryland insurance regulators approved an average 13.4% increase in individual‑market health insurance premiums for 2026, the Maryland Insurance Administration said, citing a sicker enrollee pool and rising medical and prescription drug costs. The final rates, published Sept. 19, will vary by carrier and plan, with approved increases ranging from about 9.8% to 15.2%.

The approval matters because the state moved to replace some of the enhanced federal premium tax credits that are scheduled to expire. Michelle Everly, executive director of the Maryland Health Benefit Exchange, told the committee the Exchange designed a state subsidy that replaces 100% of the enhanced federal credits for people under 200% of the federal poverty level (FPL), phases down replacement between roughly 200–250% FPL, and provides roughly 50% replacement for households between 250% and 400% FPL. Households above 400% of FPL are not eligible for the state subsidy.

Maryland Insurance Commissioner Marie Grant said rate reviewers found medical trend averaging about 6.4% for 2026 — driven by hospital (roughly 4.8%) and professional services (about 6.1%) — and a larger prescription‑drug trend (about 10.4%). Grant said those trends, combined with expected enrollment declines and changes in morbidity, produced the approved increase.…