Maine Proposal Could Stabilize ACA Markets
The Maine Bureau of Insurance is considering a program that could help stabilize the Affordable Care Act's (ACA) individual marketplace and potentially lower premiums or keep rate increases in check. Maine Insurance Superintendent Eric Cioppa said the bureau supports a bill that would allow it to request a waiver from the Centers for Medicare and Medicaid Services that would permit states to create reinsurance programs, which help insurance markets by providing a safety net against excessive claims.
“It’s a way to reduce rates,” Cioppa said. “I would think we would want to take advantage of a program that would lower premiums.” Given the uncertainty about the Republican plan to replace the ACA, Cioppa said it makes sense to be prepared to shore up the ACA to benefit Maine residents.