Health Insurance Cost For Some Minnesotans Dropping- MNsure News Conference
84 views · Published 2 October 2017 · 19:48 · Indexed 21 September 2026
Channel: The Uptake by Bridgemakers · 2017 · News & Politics
Press release: Minnesota Commerce Commissioner Mike Rothman today released the 2018 insurance company rates for individual and small group health plans in advance of the open enrollment period that begins on November 1. After two years of large rate increases in the individual market, a new state reinsurance program will help stabilize rates for Minnesotans who buy their own coverage in 2018. “While recent state actions helped to stabilize the individual market, too many Minnesotans are still paying too much for the coverage they need,” said Rothman. “The individual market survived a near-fatal crisis last year, but its recovery is still very tentative. Federal and state policymakers must address health care costs to ensure that Minnesotans have access to affordable, comprehensive health coverage.” The individual market rates apply to health insurance plans that Minnesotans purchase for themselves and their families through MNsure, insurance agents or the insurance companies directly. The rates do not affect most Minnesotans, who are covered by employer-based insurance or public programs like Medicare, Medicaid and MinnesotaCare. Less than four percent of Minnesotans (approximately 166,000) currently get their coverage from individual policies, while five percent (approximately 263,000) get coverage from small group policies, which are for employers with fewer than 50 full-time workers. For insurers in the individual market, the average statewide rate changes for 2018 range from a 38 percent decrease to a less than three percent increase – compared to rate increases of 50 percent and more that occurred in 2017. For insurers in the small group market, the average 2018 rates range from essentially no change to a 23 percent increase, with increases from 7.8 percent to 12.2 percent for the three largest small group insurers.
