Insurer to refund $364,000 plus interest to Maine small businesses

Posted April 11, 2011, at 9:20 p.m.

AUGUSTA, Maine — The Mega Life and Health Insurance Co. will provide refunds plus interest to many of the small businesses insured with the company in Maine, the Maine Bureau of Insurance announced. The total refund due to Mainers is $364,000 plus $39,500 in interest.

The refunds correct an error that Mega discovered during a review of the company’s 2010 rate filing with the insurance bureau. Checks including premium refund and interest will be mailed in April to approximately 1,300 small businesses in Maine. The refund and interest amounts range from $5 to more than $4,200, with an average of approximately $300, the bureau said. Mega covers roughly 1,400 small businesses in the state.

Consumers with questions should contact Maine’s Bureau of Insurance at 800-300-5000 or Mega’s customer service department at 800-527-5504.

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