Texas insurer pulls out of Maine, cites ACA issues
Mega insurance, a Texas-based company, is discontinuing health plans for about 7,000 Mainers after announcing that it will leave the state as national operations decline.
Michael Stahl, a spokesman for Mega, told the Portland Press Herald that its health insurance plans for small businesses and individuals were being discontinued nationally because they were not compliant with the federal Affordable Care Act.
“With the declining customer base, Mega determined that the expenses required to continue to support such plans was no longer economically feasible,” he said.
The newspaper said Mega’s high-deductible insurance plans did not qualify for federal subsidies as part of the ACA because the company did not offer them on Maine’s health insurance marketplace. Many of the 7,000 plans in Maine had been grandfathered.
Most Recent
Most Recent
Comments