Snake Posted June 7, 2017 Share Posted June 7, 2017 Health insurers in Maine are again aiming to increase rates for Obamacare plans, with one company seeking an unprecedented 40 percent hike on average in 2018. Insurers had until Friday to file their proposed rates for next year. The higher monthly premiums, if approved by insurance regulators, would affect about 80,000 Maine residents who buy coverage under Obamacare. Even if regulators denied these specific rates, increases of some amount are almost certainly in the offing. First, let’s run through each of the rate requests filed by the three insurers that sell Obamacare plans in Maine. Then we’ll delve into the reasons for the premium hikes. Harvard Pilgrim Harvard Pilgrim seeks the largest rate hike by far, with plans to raise monthly premiums by 39.7 percent. That’s easily the biggest yearly increase any Obamacare insurer has pursued in Maine, though premium hikes are nothing new. If the state insurance bureau approves it, the average Harvard Pilgrim customer would see their monthly premium jump from $468.65 a month to $654.78. That’s an average increase of nearly 40 percent, so some customers would get hit harder than others. The rate jumps would range from 22.3 percent, which is hardly pocket change, to a much steeper 122.8 percent. About 21,000 Harvard Pilgrim customers would be affected by the rate increase, if they renew their health plans with the company. http://vitalsigns.bangordailynews.com/2017/06/06/home/obamacare-premiums-are-about-to-get-more-expensive-in-maine/ Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 7, 2017 Share Posted June 7, 2017 (edited) Profits? Edited June 7, 2017 by Mainecat Quote Link to comment Share on other sites More sharing options...
Im4snow Posted June 7, 2017 Share Posted June 7, 2017 3 minutes ago, Mainecat said: Profits? Fortunately OC caps profitability. So, that being said, try again. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 7, 2017 Share Posted June 7, 2017 (edited) 1 hour ago, Im4snow said: Fortunately OC caps profitability. So, that being said, try again. Ah NO The governor requested a waiver. Edited June 7, 2017 by Mainecat Quote Link to comment Share on other sites More sharing options...
Im4snow Posted June 7, 2017 Share Posted June 7, 2017 6 minutes ago, Mainecat said: Ah NO The governor requested a waiver. Keep trying.... The ACA requires health insurers in the individual and small group market to spend 80 percent of their premiums (after subtracting taxes and regulatory fees) on medical costs. The corresponding figure for large groups is 85 percent. According to a recent Kaiser tracking poll, 60 percent of the public views the MLR concept favorably, although only 38 percent was aware that the provision is in the ACA. MC, the red would be you. http://thehealthcareblog.com/blog/2012/02/04/does-obamacare-limit-profits-for-health-insurance-companies-in-your-state/ Quote Link to comment Share on other sites More sharing options...
Anler Posted June 7, 2017 Share Posted June 7, 2017 Can't wait to see Trump's plan to fix this... Quote Link to comment Share on other sites More sharing options...
Snake Posted June 7, 2017 Author Share Posted June 7, 2017 8 minutes ago, Anler said: Can't wait to see Trump's plan to fix this... massive problem the democrats shoved down America's throat. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted June 7, 2017 Share Posted June 7, 2017 15 minutes ago, Anler said: Can't wait to see Trump's plan to fix this... Trump and plan don't belong together Quote Link to comment Share on other sites More sharing options...
Anler Posted June 7, 2017 Share Posted June 7, 2017 9 minutes ago, Snake said: Got news for you.. It was a serious problem before the democrats shoved it down our throats and continues to be seeing as the pubes have had 9 years to fix it and havent done shit. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 7, 2017 Share Posted June 7, 2017 2 hours ago, Im4snow said: Keep trying.... The ACA requires health insurers in the individual and small group market to spend 80 percent of their premiums (after subtracting taxes and regulatory fees) on medical costs. The corresponding figure for large groups is 85 percent. According to a recent Kaiser tracking poll, 60 percent of the public views the MLR concept favorably, although only 38 percent was aware that the provision is in the ACA. MC, the red would be you. http://thehealthcareblog.com/blog/2012/02/04/does-obamacare-limit-profits-for-health-insurance-companies-in-your-state/ No wrong again the State of Maine requested a waiver its not 80%. Go back to Google. Quote Link to comment Share on other sites More sharing options...
Anler Posted June 7, 2017 Share Posted June 7, 2017 If Trump and the Pubes really gave a shit about this they would 1. Implement UHC and make it 100% taxed to individuals 2. Remove the employer mandate all together and let the free market sort it out... Quote Link to comment Share on other sites More sharing options...
Mainecat Posted June 7, 2017 Share Posted June 7, 2017 The State requested a 3 year waiver of the MLR reducing it from 80% to 65%. That was 3 years ago. So now the healthcare companies have to spend 80% on health costs reducing their profits. Now they announce 20-40% increases....WHY? Quote Link to comment Share on other sites More sharing options...
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