Reforms by Gov. Janet Mills Will Lower Insurance Premiums for Maine’s Small Businesses Next Year
Thanks to a law proposed and signed by Gov. Janet Mills, Maine’s small businesses will see a reduction in health insurance premiums in 2023, marking the first decline since at least 2001 and making Maine one of the only states in the northeast to experience a decrease in the small group market.
Gov. Mills signed the Made for Maine Health Coverage Act in 2020, combining the small group and individual markets. Small group rates would have increased by an estimated 12 percent without the reforms — instead, they’ll decline by 0.8 percent.
“This is a victory for many Maine small businesses and their hard-working employees who rely on the small group market for health insurance, and it couldn’t come at a better time,” said Gov. Mills. “As Maine small businesses grapple with high costs from inflation, this is one less thing they will have to worry about.”
This is yet another win for Gov. Mills’ administration as they work to support small businesses, grow the economy, and stand up for working people. Gov. Mills has already delivered much-needed tax relief and funded a free community college program to boost Maine’s workforce.
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