Organization of Maine Guaranteed Access Reinsurance Association

The Maine Legislature in 2011 passed a landmark bill (PL 90) aimed at reforming the failing individual health insurance market in Maine. The bill authorized establishment of a new non-governmental insurance company (the Maine Guaranteed Access Reinsurance Association, or “MGARA”) that would provide reinsurance to cover the sickest individuals historically responsible for the bulk of the health services used and corresponding costs, with the ultimate goal of reducing premiums in that market. The Board of Directors of MGARA retained Pierce Atwood to analyze the new groundbreaking law, form the new reinsurance company, guide its financing and other operations, and work with the Legislature and Bureau of Insurance through this complex process. MGARA began its operations in July 2012 as planned and is currently providing reinsurance for over 3,000 of Maine's sickest individuals. Pierce Atwood is proud to have served MGARA and the State in this important work.