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Maine's individual and small group market health insurance rates may increase

Consumers who get health insurance coverage through Maine's individual and small group marketplace could see double-digit rate increases next year.

According to filings with the state Bureau of Insurance, the average proposed increases range from about 8% to 32%.

Some consumers have been shielded from large increases in the past because of enhanced premium tax credits, but those will expire at the end of the year without Congressional action.

The proposals must be approved by Maine's Bureau of Insurance, which will hold a virtual forum on August 15.

Last year, the agency approved insurance rates that increased by an average of roughly 9%, which was about 5% lower than what insurance companies requested.