- Associated Press - Sunday, October 15, 2017

Maine health insurers say the individual premium hikes they requested this year will cover President Donald Trump’s decision to eliminate federal reimbursement of a key subsidy.

The Portland Press Herald reports that Maine’s two remaining providers of individual health insurance said they won’t drop out of the marketplace due to the Republican president’s move. The subsidy will cost $7 billion this year and goes to companies for lowering out-of-pocket costs for more than 6 million low- and middle-income customers.

Anthem recently exited Maine’s individual marketplace.

The state Bureau of Insurance says the average premium increase in Maine for individual buyers of mid-tier “silver” policies in 2018 will be nearly 50 percent. Community Health Options President and CEO Kevin Lewis says that increase is largely due to the expected subsidy elimination.


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide