We tried to find fault with LD 290, Rep. Jon McKane’s (R-Newcastle) bill to allow intra-New England sales of health insurance. We were predisposed to the idea, which didn’t help our objectivity. But in fairness, we did endeavor to consider all the drawbacks.

There are regulatory issues. Policies sold in other states may not comply with Maine standards. This could lead to liability issues, or worse, finger-pointing for culpability when a particular regulator in a particular state drops the ball.

OK. There’s one. Consumer protections are another.

How does Maine protect its people from deceptive practices emanating from, say, Connecticut? Under whose authority would whistles be blown? This is a concern, yet one – we think – that could be worked out through an inter-state compact.

The core point is that there are imperfections. Above all else, though, there is one salient and incontrovertible trump card that renders these issues as mere blemishes.

And that is numbers don’t lie. Maine’s uncompetitive private insurance market often requires double-digit premium increases. Such as:

• Anthem’s individual health insurance premiums in Maine increased by an average of 14.5 percent in 2005, by 16.3 percent in 2006, by 16.7 percent in 2007 and by 12.5 percent in 2008. This year’s proposed average increase is 18.1 percent.

Anthem holds a 55 percent share of this market in Maine. (Two years ago, it was 81 percent.)

• The cost of small group insurance premiums in Maine increased overall by 13 percent in 2005, 8 percent in 2006, 13 percent in 2007 and 8 percent in 2008. The 2009 increase is 14 percent. Anthem held about 53 percent of this market, as of December 2007.

These hikes have also come despite significant government intervention into insurance, which has allowed Maine to boast – and rightfully so – one of the lowest rates of uninsured residents in the United States.

Yet the rising costs of this coverage has not been stemmed. Government-funded insurance runs huge deficits. Government-subsidized insurance has deficits plus a funding formula that’s under fire. Private insurance grows more and more expensive by the year.

Allowing Mainers to shop New England for health insurance could help the latter. There are details to be decided, but the principle is sound: More options, even of varieties only available in this region, could have a cooling effect on premium hikes, at least.

Yes, it will mean more work for regulators. And the expectation shouldn’t be that inter-New England sales of policies will reduce the overall costs in Maine.

Rather, if a market force can stop the double-digit premium increases to which Maine has become sadly accustomed, it is worth it.