Court Affirms Insurance Superintendent's Denial of Anthem's 2009 Requested Rate Increase
Contact: Kate Simmons (207) 626-8577
Augusta- Maine Superior Court Chief Justice Thomas Humphrey affirmed the Insurance Superintendent?s denial of Anthem Health Plans of Maine, Inc. fixed profit margin in their rates for individual health insurance plans in Maine. The Court found that individual health plan rates meet the governing legal standard if they cover the ability of the insurer to ?sustain projected losses and expenses,? and that Maine law does not ?expressly entitle insurers to a mandated profit margin.?