Public Can Weigh In On Insurers Proposed Rate Hikes
GARDINER, Maine - The public can weigh in on proposed rate hikes on the individual health marketplace for 2020.The Maine Bureau of Insurance is holding a public meeting July 25.
Insurer Anthem is requesting an average premium rate increase of 1%, while Harvard Pilgrim Health Care is requesting 1.9%. Meanwhile, Maine Community Health Options has proposed a 7.7% average rate increase for 2020.
Insurers expect new state laws mandating coverage of adult hearing aids and elective abortions will cost members a few more dollars a month.
Maine Community Health Options expects the individual market to shrink due to the repeal of the individual mandate that was a key part of former President Barack Obama's signature health law.
New rates are effective January 1 if approved by the bureau.