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Poll results

Maine health insurance rates are scheduled to rise significantly on Jan. 1, 2025, but state officials say the increases are modest compared to what they could have been.

The Bureau of Insurance recently approved rate increases averaging 8.6% for individual insurance and 9.4% for coverage of small groups — such as employers with 50 or fewer workers.

Insurers had initially proposed boosting their prices in both markets by averages of more than 14%. The bureau said it worked with the insurance companies and leveraged federal funds to reduce the hikes before OK'ing them.

In 2023, health insurance rate increases of 14.6% in both the individual and small-group markets were approved and took effect this year.

What's your reaction to Maine's newly approved rate increases for health insurance?
The increases are too much and will hurt Mainers and Maine small businesses. (74%, 171 VOTES)
The increases are an acceptable compromise reflecting many factors. (14%, 32 VOTES)
The increases are so small they don't reflect the costs of health care realistically. (1%, 2 VOTES)
I'm undecided or don't know enough about the issue. (11%, 25 VOTES)
Poll Description

Maine health insurance rates are scheduled to rise significantly on Jan. 1, 2025, but state officials say the increases are modest compared to what they could have been.

The Bureau of Insurance recently approved rate increases averaging 8.6% for individual insurance and 9.4% for coverage of small groups — such as employers with 50 or fewer workers.

Insurers had initially proposed boosting their prices in both markets by averages of more than 14%. The bureau said it worked with the insurance companies and leveraged federal funds to reduce the hikes before OK'ing them.

In 2023, health insurance rate increases of 14.6% in both the individual and small-group markets were approved and took effect this year.

  • 230 Votes
  • 2 Comments
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2 Comments

  • September 4, 2024

    Our company paid all of the employee and their family's health insurance until fifteen years ago. The cost of medical insurance has averaged double-digit increases since that point. The costs are out of control. At some point, we have to investigate why the big bonuses that the insurance company executives, hospital executives, and drug companies get due to record profits. Not all are guilty, and the small and rural players are getting squeezed out due to over-regulation, delayed payments, and constant issues with the lawyers. Canada's health system is a hot mess, and I pray that our government stays out of it other than to enforce the laws.

  • September 4, 2024

    Health Insurance is a huge expense to small and mid-size businesses. We cannot raise our prices but insurance goes up almost every year. In 24 years, our rates have gone down twice. And yet, the chief officers of these insurance companies get paid handsomely... partially because their profit is never in doubt.