Harvard Pilgrim Health Care
Rate Justification for Maine Individual Plans
Rate Change Effective January 1, 2020
Qualified Health Plan (QHP) issuers are required to post justifications for any QHP rate increases to their websites. Below, please find the justification for the rate increase effective January 1, 2020 for the Harvard Pilgrim Health Care Maine Individual QHP plans.
Drivers of the Rate Increase
There are several key drivers of the 2020 rate increase:
Harvard Pilgrim carefully monitors administrative expenses year to year. Administrative costs for Harvard Pilgrim have not increased significantly and therefore do not factor into the overall rate increase for 2020. Under the ACA, at least 80% of premium must be used for medical expenses (otherwise, a rebate is paid to subscribers). After the 2020 rate increase, Harvard Pilgrim expects to comply with this requirement.
Harvard Pilgrim’s Strategy to Keep Premiums Affordable
Harvard Pilgrim is committed to improving value and quality across the health care system. Some of the ways we are working to meet our goals include:
Continuing to find ways to lower health care costs while providing enhanced value to our customers through our products and services is a keystone to Harvard Pilgrim’s long-term strategy.
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