Affordable Health Insurance in Maine
Affordable Health Insurance in Maine

Purchasing an affordable health insurance in Maine is relatively easier than in other states, because of lax regulations especially towards individual policies. However, you should still take responsibility of knowing your options and assessing your coverage needs. Furthermore, if you are at the process of choosing among several prospective policies: It is imperative for you to compare premiums, policy inclusions, and benefits. As such, it is necessary for you to understand and be familiar with policy specifics.

Another important feature that you should take into consideration is the issuing company’s reputation, licensure, and service record. In this case, purchasing a policy from a company with superior service can possibly incur additional costs; but if the company has an overall high level of credibility, you can still be assured of a good and affordable purchase.

State Regulator: The Maryland Insurance Administration
The Maryland Insurance Administration (MIA) is an agency in Maine that takes charge of regulating the business of insurance within the state. You may refer to the MIA for your insurance concerns, difficulties, complaints, and other health insurance-related aid that you may need. Apart from Maine consumers, the following can also approach the MIA for assistance in health insurance-related aspects, as well as those of other types of insurance:
*health care providers including hospitals and doctors
*producers such as brokers or agents
*businesses  

Health Insurance: Available Options within the State
The five primary insurance payment structures are Health Savings Account (HSA), Point-of-service (POS), Health Maintenance Organization (HMO), Fee-for-service, and Preferred Provider Organization (PPO). However, payment structures are not the only things you should take into account when choosing to purchase a fitting plan: You should also assess whether to settle for group health insurance or individual health insurance.

Some of the basic things to know about group and individual coverage include the following:

*You may enrol under a group health plan that is provided by your employer. In Maine, employer-sponsored group plans provide employees with guaranteed coverage. It also covers pre-existing health conditions, although some plans may require that pre-existing conditions can be excluded for a specific time period (6-12 month look back). This type may also provide coverage to your family. It is generally associated with low premium costs, and thus has a general reputation of being an affordable health insurance in Maine; wherein the costs per individual employee will depend on roughly 20% of the Modified Community Rate and the employer’s contribution.

*An individual plan provides individual coverage, or family coverage under a single policy. Unlike many states in America, individual policies sold in Maine do not require medical underwriting. Insurers in Maine cannot diversify rates based on grounds of gender, claims experience, and policy duration; although rates may legally vary depending on industry, age, and geographic area. Individual policies also provide guaranteed coverage like group health plans. Annual deductibles in individual policies may fall between $250- $1, 500.

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Student health insurance may either be attained through group health insurance or individual health insurance. The group plan that provide student health coverage is usually offered by the school. Many universities in Maine are affiliated with companies of health insurance; as such, costs are generally low. However, an individual student health plan can also prove to be an affordable health insurance in Maine; especially because companies may design policies that cater to the financial capacity of those who are still studying.

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Affordable Health Insurance in Maine