Obama Care Expecting Double Digit Increases
Industry insiders say it looks like another double digit increase for individual insurance rates in Maine under the Affordable Care Act.
Only two insurers are offering ACA-compliant health insurance for individuals in Maine. They are Lewiston-based Community Health Options and Massachusetts-based Harvard Pilgrim Health Care. They face a June 4 deadline for submitting their 2019 rate requests.
According to the Portland Press Herald, Mainers who purchase individual insurance through the ACA marketplace have seen a surge in their premiums by as much as 110 percent since 2014.
Those soaring costs have priced some Mainers out of the market. The Maine Bureau of Insurance reports that nearly 76,700 Mainers had individual ACA coverage in the first quarter of this year, down 10 percent from 85,300 a year earlier.