A Guide to Health Insurance in Maine (ME)

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There is a lot of information available about health insurance in Maine, but unfortunately much of it is hidden away in the archives of institutions like the Maine Bureau of Insurance and the result is that Maine Health Insurance still seems like a subject that is largely shrouded in mystery and misinformation.

In this article I will be discussing Maine Health Insurance and the various factors that you need to look at when comparing policies.

It would be easy to assume that simply because you have not been forced to buy health insurance cover for a while that you have all bases covered when it comes to choosing a good deal. Whereas the reality is that there can be some quite fundamental differences between policies, and it is important to realize that a thorough analysis of your existing policy against the terms of other policies that are available can yield positive results.

This is especially true if you have more choice in the policy that you buy, or where you are looking to buy a private health insurance policy.

Individual Maine Health Insurance differs from Group Maine Health Insurance in that you have substantially more choice in the type of policy that you choose to buy, and in the levels of cover that you want to receive. This flexibility is perhaps the biggest advantage of individual health insurance policies, because rather than narrowly pigeonholing your health needs, it means that you can specifically pursue policies that best suit you.

The downside of this is that you will be solely responsible for paying your own health insurance premiums, and so this can be an expensive option. It is not particularly because individual Maine Health Insurance is dramatically more expensive then group policies (though it does tend to be a bit more expensive).  It is instead because Group Maine Health Insurance Plans are generally quite heavily subsidized by employers, and so whilst the premiums overall are only marginally cheaper for more comprehensive policies, employers are typically paying about 60% of the cost of the premium.

This means that in practice because the individual only has to pay 40% of the cost that it ends up costing them considerably less money.  So it is no particular surprise given this fact that 47% of the health insurance in Maine is employer provided health insurance of the group variety, and only 4% is individual or personal health insurance.

The remaining 49% is made up of 39% where people are enrolled in Government programs for their health insurance (like Medicaid or Medicare), and a further 10% who have no insurance.

Despite the fact that this 10% represents 125,600 people who have no access to health care; Maine actually has one of the better records when it comes to its levels of uninsured people compared with the overall national average of 16%.

Texas has an amazing 25%, or 1 in 4 of its population who are uninsured; whilst the best performing state in this regard is Massachusetts who have 5%.

Bearing in mind though the enormous costs of health care in the US, even 5% is far too high, and yet that is the lowest figure of all the states with twenty-nine of the states having figures of 14% or higher.

Nevertheless, getting health insurance is important, because the last thing you want to focus on if you become ill is whether or not your health insurance is up to date.

Take a look at some Maine Health Insurance Quotes and see what is available and how much the insurance companies want to charge for it.


 

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