Maine health insurers are getting a temporary waiver from the health reform law’s requirement that they spend at least 80 percent of premiums on care, federal regulators decided Tuesday.
Maine is the first state to get a waiver. Three other states — New Hampshire, Nevada and Kentucky — have pending waiver applications.
The law requires plans in the individual market to meet an 80 percent medical loss ratio threshold or offer rebates to enrollees for the difference. The Maine Bureau of Insurance in December asked to retain its existing 65 percent ratio, arguing that a higher ratio would disrupt its market.
Full Story: Maine gets first state waiver from healthcare law provision – The Hill’s Healthwatch