For more information contact: Mike Molzahn 651-296-1774
First, thank you again for the trust you’ve placed in me to be your voice at the Capitol. It is an honor to serve you. We’re just finishing up the first month of the legislative session and quite a bit has happened so far. We’ve been busy meeting with constituents, going to committee meetings and passing bills. Two important bills we passed on a bipartisan basis were the federal tax conformity bill and the health insurance premium relief bill. Here’s some information on them:
Federal Tax Conformity
In the first week of January, the House passed a bipartisan tax measure unanimously. The Tax Conformity bill matches Minnesota’s income tax laws with new laws passed by the federal government and will benefit 178,000 Minnesotans. Passing tax conformity early will enable tax forms and computer programs to be up to date when you file your 2016 taxes. This bipartisan legislation will help many Minnesotans maximize their refunds, including those paying for college and home mortgages. You can read more about the Tax Conformity bill signed into law by Governor Dayton here.
Health Insurance Premium Relief
The 125,000 Minnesotans who buy their insurance on the individual market, but don’t qualify for subsides are facing premium increases of up to 60%. Thankfully both parties came to an agreement and we were able to pass it before the February 8th deadline for individuals to purchase insurance.
The bill we passed last week will help alleviate crushing premium increases farmers, families, people nearing retirement age and small business owners are facing. The good news is those affected by increasing premiums don’t need to do anything. The legislation we passed will allow their insurance companies to apply a 25% rebate to their monthly policy. Those benefiting from this law will see the 25% reduction on their premium statements and are retroactive back to Jan. 1. These reduction should show up on statements in about two months.
While I’m glad we were able to come together and pass this much needed relief, there are still long term policy changes we must make to ensure people have the best, most affordable healthcare in the country. Minnesotans know that our health insurance market needs reform that will hold down costs, improve care, and increase access. I’m committed to delivering that to you.
As always, please don’t hesitate to contact my office with any issues or concerns you may have. Feel free to forward this to your neighbors and let them know they can sign-up for news from me about what’s going on at the Capitol here.