Maine individual insurers seek 9 percent rate hike
PORTLAND, Maine (AP) — Two insurers on Maine’s individual health insurance market are requesting lower-than-expected rate increases for 2019.
Portland Press Herald reports the insurers are requesting average rate increases of over 9 percent in 2019.
Higher federal subsidies could help 85 percent of policyholders who could be impacted. Nearly 76,700 Mainers had individual Affordable Care Act coverage in the first quarter of 2018, down 10 percent from 2017.
Massachusetts-based Harvard Pilgrim Health Care is asking for an average premium increase of 9.5 percent for its individual plans on Maine’s ACA marketplace in 2019.
Lewiston-based Community Health Options is requesting an average premium increase of 9.2 percent for its individual plans.
The rate increases could be smaller if the state revives its reinsurance program. If so, Anthem says it could rejoin Maine’s individual marketplace.