ObamaCare in Maine Continues on a Downward Path Toward Collapse, Putting Tens of Thousands of Families at Risk
WASHINGTON – Recent reports from Mainebiz provide further warnings on the sustainability of Obamacare in Maine, echoing concerns Congressman Bruce Poliquin (ME-02) has been expressing.
According to a report from the Maine Bureau of Insurance, Community Health Options—one of only three insurers on the entire ObamaCare market in Maine—finished 2016 with a total net loss of $58.3 million.
This is on top of losses incurred by the insurer in 2015 totaling $31 million, as reported by the Portland Press Herald.
This same insurer has sued the federal government for tens of millions of dollars in additional taxpayer money, according to a report from the Portland Press Herald.
More concerning, the average monthly premium increase for an individual plan on the exchange is projected to be a whopping 14 to 24 percent in Maine for 2017.
With massive losses, lawsuits against the government, and double-digit premium increases, it is hard to see how this can be sustainable or affordable over the long term.
Adding to these concerns is the fact that privately insured individuals and families have also seen large cost increases while others have lost their private plans altogether.
Congressman Poliquin released the following statement concerning the failing ObamaCare law, stressing the importance of acting before its collapse, which would put tens of thousands of Maine families at risk of higher health care costs and drastically fewer options:
“Parts of ObamaCare are continuing on a downward path in Maine” said Congressman Poliquin. “If we do nothing, Mainers who signed up for their ObamaCare plans in good faith will be left out in the cold even as they experience massive premium increases. Congress needs to try and fix this.
“As I’ve said before, we must have a replacement that includes coverage for pre-existing health conditions and allows those 26-years-old or younger to stay on their parents’ plans as they become established in the economy. Any replacement law must also eliminate job-killing taxes and regulations, such as the medical device tax, which harm Maine businesses like Hardwood Products Company, LLC in Guilford. I will thoroughly and carefully evaluate every proposed replacement law with these in mind.”
Items to Note:
- Mainebiz, Feb. 7: Community Health Options ends 2016 with a loss
- January 2017: Rep. Poliquin to Vote for Health Insurance Relief for Thousands of Maine Families
- May 2015: Rep. Poliquin offers 14 free market solutions to ObamaCare
- March 2016: Rep. Poliquin sends letter to entire Republican Conference, suggests 14 reforms to improve health care system