Health reform circle Legislators hope that by reducing the risk to insurers selling on the individual market, premiums may come down enough to make them affordable next year. (Photo: Shutterstock)

Washington may not be willing to do anything to stabilize the individual markets under the Affordable Care Act, but Maryland is. In fact, it’s been operating under the radar for months to do just that.

A report in the Baltimore Sun says that the state’s Republican governor and Democratic lawmakers agreed not only to work quietly to come up with a plan to stabilize the state’s individual insurance marketplace but are on the verge of approving a plan that would impose a new, one-year state tax on insurance companies and then use that revenue to subsidize the most expensive health insurance claims from policies sold through the state’s health benefit exchange.

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Marlene Satter

Marlene Y. Satter has worked in and written about the financial industry for decades.

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