On Jun. 12, ME INS proposed health insurance rate filings for 2025
ME INS issued proposed 2025 individual and small group health insurance rates filings.
Include company name and the SERFF tracking number for individual and small group.
Comments requested on proposed rate filing, can leave comment on company page.
Aug. 2024 ME INS 2025 Rate Approval
On Aug. 26, 2024, ME INS reported approval of the 2025 health insurance rates for Maine's individual and small group plan marketplace, effective as of Jan. 1, 2025.
Working with government, ME INS was able to hold approved rate increase down.
Reduced from initial rate increase for individuals of 14.2% to approved rate of 8.6%.
For small employers the initial 14.5% increase was reduced to 9.4% for small plans.
ME INS was able to approve lower rates in part due to Maine’s reinsurance program.
Reinsurance program leverages State, federal funds to reduce health ins. premiums.
In addition to lowering overall rate of increase, ME INS directed carriers to adjust geographic rating factors to reduce disparity between southern and northern Maine.
