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Health insurance rates going up more than 14% on average in Maine's 2024 marketplace

Rates on Maine's health insurance marketplace will rise an average of more than 14% next year, according to filings with the state Bureau of Insurance.

Community Health Options will have the highest average increase for individual plans, at close to 18%. MCHO, along with UnitedHealthcare, will also have the highest increase for small group plans, at 17%.

Kate Ende of Augusta-based Consumers for Affordable Health Care says a majority of enrollees will likely qualify for tax credits and be shielded from the increase. But she says it's important to shop around when the marketplace opens this fall.

"And so we really encourage people every year to go back to coverme.gov, or if you want help enrolling, there's free help throughout the state," she says. "Whichever way you decide to do it, compare your options."

Ende says high health care prices are likely one of the major drivers of the rate increases.