MGARA will be funded through three mechanisms: (1) assessments on insurers and providers in Maine’s health insurance markets, (2) premiums paid by insurers that reinsure their insureds with MGARA and (3) potential deficit assessments designed to cover net losses should those occur. There is also a one-time organizational assessment. These funding mechanisms function essentially as follows: 

         Base Market Assessment – Assessed to health insurers based on the number of  insured lives covered by each at a rate of up to $4 PMPM for all insureds in the Individual, Small Group, Large Group and Self-insured Markets (excluding State and Federal employees) 

         Ceded Member Premium to be determined by MGARA  

         Optional Assessments to Cover Net Loss -- Up to $2 PMPM to cover losses, if any  

         Organizational Assessment – one-time nominal $500 fee for each insurer

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