Bill > LD1402

This bill proposes to convene a stakeholder group to study the long-term financial sustainability of the Maine Guaranteed Access Reinsurance Association (MGARA). MGARA is a state-based reinsurance program designed to help stabilize health insurance markets by providing financial support to insurers who cover high-cost patients. The stakeholder group would be tasked with examining the association's current financial status and developing recommendations to ensure its continued solvency, which means maintaining the ability to pay all financial obligations. While the bill is currently a concept draft, which means it outlines a general idea rather than specific legislative language, it represents an effort to proactively address potential financial challenges facing this important health insurance market stabilization mechanism. By bringing together various stakeholders, the bill aims to develop collaborative solutions that can help maintain the effectiveness and financial health of MGARA in the long term.

Health and Social Services

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1402&snum=132