Maine: Revised 2021 #ACA premiums: 13.1% lower for indy market, 4.4% higher for small group plans
Back in late June, I noted that the Maine Insurance Dept. had issued the preliminary 2021 rate filings for the state's individual and small group market carriers. At the time, the individual market carriers were averaging rate reductions of around 4% while the small group carriers were looking to raise premiums by around 6.2%.
It was recently brought to my attention that revised rate filings have been submitted by Maine carriers for 2021...and while these still aren't the final/approved rates, they're significantly lower than the original filings.
Two of the three indy market carriers (Anthem and Harvard Pilgrim) have reduced their rates dramatically. The third (CHO) only reduced theirs by a couple of points, but the net result is that they're now averaging a 13% reduction...9 points lower than the 4 points they were already being knocked down.
The small group market carriers didnt' change their requests by as much, but they're still lower: A 4.4% average increase instead of 6.2%.
UPDATE 10/08/20: The revised rates have all been approved by the state regulators on both the individual and small group markets.