Earlier in 2011, Maine introduced a health insurance system overhaul that has affected the majority of companies operating in the sector. Seniors and people who experience significant surgery costs may be charged much more than younger and healthier individuals. Maine officials said that the health insurance overhaul was designed to decrease insurance costs. The high risk pool that consists of seniors and other individuals requiring specific or extensive medical attention was designed specifically for that purpose. Republicans were the ones that gave significant support to the overhaul. According to the Maine governor, the overhaul will decrease the price of medical procedures, including surgery costs, benefiting both individuals and small companies.

Opposition to the reform, however, said that the insurance overhaul will affect seniors and people considered high risk. According to Democrats, the bill is solely going to benefit insurance companies, rather than the residents of the state. What does this mean for insurance companies? A significant differentiation of clients will come into effect. Young and healthy clients will receive very affordable and attractive offers. At the same time, the individuals included in the high risk pool will have to pay several times more for a health insurance quote.

Currently, the Maine health insurance change allows companies to charge older people and individuals with a history of medical conditions up to five times more than younger clients. In 2014, however, the new national health insurance bill will minimize the difference to three times. Insurance companies will be capable of providing lower rates to individuals living in the urban areas. Rural regions are supposedly connected to higher risk, which will make quotes more expensive for the people living there. Another change affecting insurance companies involves licenses and the provision of health insurance services in Maine. According to the new regulations, companies from Connecticut, Rhode Island, New Hampshire and Massachusetts will have the right to offer their policies in Maine without needing a license.

This provision comes in contradiction with the national health bill. According to it, in 2014 all insurance companies will need to be licensed in the state where they are going to offer their services. The full effect of the Maine health insurance overhaul is yet to be felt in its entirety but many companies and individuals are already experiencing the changes. Small companies that are operating in the rural areas are forced to pay more for group health insurances, which affects the operation of such minor businesses.

Though the Maine health insurance overhaul benefits young and healthy people, it comes with a significant risk pool, which will hurt many. Some more time is needed but insurance companies are certainly going to experience a change in their operations.