Maine's new health insurance reform law, LD 1333, will change the health insuran

Jackie Farwell

Source

Mainebiz

Date

5-30-2011

Pages

1, 6

Abstract

Maine's new health insurance reform law, LD 1333, will change the health insurance market for about 40,000 people who buy their own coverage or get coverage through companies with 50 or fewer workers. Similar to a system in Idaho, the Maine law will create a Guaranteed Access Plan, a high-risk reinsurance pool for the sickest Maine residents that will be funded through an assessment on premiums for most Maine policyholders. The new law will also permits insurance providers in other New England states, except Vermont, to sell insurance in Maine beginning in 2014 and allows premiums to be based on age, job, geographic location, and tobacco use. Businesses will also be able to band together to purchase insurances for their employees. While some thought Idaho's high-risk pool would spur competition, there has not yet been an increase in insurers. And it is unclear what will occur when the federal Affordable Care Act takes effect.

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