AUGUSTA, Maine — The state wants public input on an effort to lower individual health insurance premiums for Mainers.
The Legislature last year passed a law to reduce premiums for individuals who don’t qualify for subsidies under former President Obama’s signature health law. The program would reimburse insurers for some costs associated with high cost enrollees.
Maine is applying for a federal waiver to create the program, which aims to stabilize Maine’s individual health insurance market amid premium increases and Anthem’s exit.
Insurance Superintendent Eric Cioppa says the state is proposing to fund the reinsurance program by using the money the federal government saves from having Maine operate the program. A federal reinsurance program ended in 2016.
The state held public hearings last week and is accepting comments until May 2.
This story has been corrected to show the state held public hearings last week instead of this week.