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Health Insurance Increase at 2%


   Great news! The MEA Benefits Trust (MEABT) Board of Trustees announced a 2% increase in annual premiums for Active and non-Medicare participants; and a 0% increase for participants in the Group Companion plan. 
    These rate increases will go into effect July 1, 2010 for the 2010-11 plan year. They follow a 0% increase for the 2009-10 plan year.
    While other insurance plans have seen significantly higher rate increases, or have decreased benefits and transferred more of the cost of health care to plan participants, the MEABT has been able to maintain exceptionally low premium increases over the past several years with only modest changes in plan designs. 
    Here is why they can offer excellent coverage at competitive rates:

  • MEABT is a well-managed Trust that exists solely for the benefit of plan participants; 
  • MEABT successfully manages a stable, statewide insurance pool that spreads claims risks statewide.  As a result, plan participants in Fort Kent pay the same premiums as plan participants in Portland regardless of claims history, age, gender, or retired status. 
  • MEABT covers a statewide insurance pool that has existed for more than 50 years and consists of a relatively homogeneous pool of occupational classifications; and,
  • MEABT representatives have aggressively negotiated with insurance carriers over the years for the lowest possible rates while maintaining the health insurance benefits that have helped keep plan participants, including retirees, healthy. 
      
        Currently, the Trust is working to expand its "Wellness" programs as a means of improving the health of plan participants and keeping future cost increases as low as possible.      
         Even with the advantages outlined above, Trustees voted to make modest reductions to the benefit designs of all three plans in order to keep the 2010-11 rates increases as low as possible. Additional information will be sent to members outlining the details of the changes.


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