SENATOR PATRICK SPONSORS BILL TO REPEAL HARMFUL ASPECTS OF REPUBLICAN RATE-HIKE LAW

Bill would prevent insurance companies from raising rates with no limits

AUGUSTA –Senator John Patrick (D-Rumford) is sponsoring a bill to repeal some of the harmful effects of the rate-hike law passed by Republicans last year.

According to research by the Consumers for Affordable Healthcare, the rate-hike law, also known as PL 90, has increased healthcare costs for most Maine people and small businesses.

“Mainers are facing tough economic times and now is not the time to subject them to higher healthcare costs,” said Senator Patrick. “We should be putting more money in the pockets of the middle class, not increasing profits for health insurance companies.”

Under PL 90, health insurance companies are allowed to significantly raise their rates without prior review.

The measure sponsored by Senator Patrick would once again require health insurance companies to file individual plans with the Superintendent of the Maine Bureau of Insurance and receive prior approval before raising their health insurance rates.

The bill, LD 83 An Act To Protect Health Insurance Ratepayers from Undocumented Rate Increases, will have a public hearing before the Insurance and Financial Services Committee today, Thursday, April 4, at 1:00 p.m. in room 220 of the Cross Building.

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