ME will merge individual and small group health insurance markets in 2023 to create more stable pricing in both
February 15, 2022 As outlined in Governor Mills’ 2020 Made for Maine Health Coverage Act, which passed in the Legislature on a bipartisan basis, Maine Insurance Superintendent Eric Cioppa issued an Order that will merge Maine’s Individual and Small Group Health Insurance markets. This historic action will create more stable pricing in both its Individual and Small Group health insurance markets, starting in 2023. The merger, which will pool the risks of the two markets and roll the Small Group coverage into the Maine Guaranteed Access Reinsurance Association (MGARA), is projected to reverse the trend of steady premium increases and declining enrollments in Maine’s Small Group Market, while supporting continued stable pricing in the Individual Market. Superintendent Cioppa has applied to the […]
