Here are a few items of interest concerning the FACTS in Maine's Legislated Health Insurance Disaster.
This is a massive scandal starting in 1993, which has;
1. Cost Maine consumers Billions of dollars in wasted premium costs and jeopardized their health.
2. Forced the exodus of employers (and our young people), and erected a barricade to new business start ups.
3. Created a huge health insurance monopoly.
4. Deliberately caused a problem of catastrophic proportions, just so the state could "step up to the plate" with the "solution"
This past decade of health insurance inflation has been nothing more than a cruel experiment on the working people of Maine.
I've included a couple of excerpts from Maine Statutes, Title 24-A specific to the current manufactured "crisis"
The first attachment-"Don't Let the Door Hit-cha":
In 1993 they knew their actions would destroy the individual market and drive insurance companies out of the state, so they included what I call the "Don't let the Door Hit-cha" provision in the law.
The second attachment-"Guaranteed Issue/Renewal":
One of the reasons Maine citizens are forced to pay 2 to 3 times more than folks "back in the states" Guaranteed Issue is a destructive concept compelling companies to sell to all comers, regardless of health.
See: http://www.cagionline.org/docs.php
Guaranteed renewal, however, is a good thing. The opponents of LD 1496 are trying to use to confuse the debate. No one is proposing it's elimination.
It means once underwritten, a client cannot be bumped upward into a more expensive rate classification or dropped from coverage.
The third attachment- "WHY, WHY, WHY":
Good questions to ask the opponents of health insurance market based reform.
Sincerely,
Michael Vaughan HD105
Title 24-A: MAINE INSURANCE CODE
Chapter 33: HEALTH INSURANCE CONTRACTS
§2736-C. Individual health plans
4. Cessation of business. Carriers that provide individual health plans after the effective date of this section that plan to cease doing business in the individual health plan market must comply with the following requirements.
A. Notice of the decision to cease doing business in the individual health plan market must be provided to the bureau 3 months prior to the cessation unless a shorter notice period is approved by the superintendent. If existing contracts are nonrenewed, notice must be provided to the policyholder or contract holder 6 months prior to nonrenewal. [2001, c. 258, Pt. B, §1 (amd).]
B. Carriers that cease to write new business in the individual health plan market continue to be governed by this section. [1993, c. 477, Pt. C, §1 (new); Pt. F, §1 (aff).]
C. Carriers that cease to write new business in the individual health plan market are prohibited from writing new business in that market for a period of 5 years from the date of notice to the superintendent unless the superintendent waives this requirement for good cause shown. [2001, c. 258, Pt. B, §2 (amd).]
[2001, c. 258, Pt. B, §§1, 2 (amd).]