Insurance head: Dirigo saved $79M
Maine's Dirigo Health insurance program saved the state nearly $79 million in 2008-2009, the largest year-to-year savings in the program's seven-year history.
Superintendent of Insurance Mila Kofman announced yesterday the state-subsidized program saved $67.3 million in hospital costs and reduced charity care by $11.3 million, for a total savings of $78.9 million, according to the Kennebec Journal. The announcement marks the fourth and final time the controversial savings offset payment formula is being used to calculate Dirigo funding. The SOP determined Dirigo funding by calculating what the program saved insurance companies. Lawmakers in 2009 replaced it with a flat 2.14% tax on paid insurance claims, which was projected to generate $42 million in funding for Dirigo.
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