Health insurance rates will increase in Maine’s individual and small group markets

Health insurance rates in Maine’s Affordable Care Act marketplace will increase next year by an average of more than 8 percent for individual plans, and more than 9 percent for small group plans.

While some subscribers will be shielded from the higher rates through subsidies, Ann Woloson of Consumers for Affordable Health Care said it’s still concerning.

“Rates are increasing and they’re already high,” Woloson said. “So we really feel more needs to be done to take a closer look as to why these costs are increasing and to take real concrete steps that will bring the costs down.”

Maine’s Bureau of Insurance, which approved the rates, said the increases are driven by the high cost of health care services and prescription drugs. The rates are on average roughly 5 percent lower than what insurance companies initially proposed, and are less than the double digit increases imposed last year.

This article appears through a media partnership with Maine Public .