FOREST LAKE, MINN – On Monday the Minnesota Department of Commerce released final rates for the 2018 individual insurance market, confirming that Republican-led reforms helped reverse the four straight years of double-digit premium increases and helped to expand health care choices to Minnesota families. According to the Minnesota Department of Commerce, rates would have risen by 20 percent or higher without Republican reforms. The individual market serves Minnesotans who do not receive health insurance through their employer or the government.
Over the past four years, premium rates increased by double digits every year, including nearly 60 percent just one year ago. As a result of the reinsurance program recently approved by the federal government, all current insurers will continue serving the individual market next year. In addition, Republicans successfully pushed to expand health care options and improve access to hospitals and doctors. As part of the reinsurance legislation, providers are now required to offer in-network access to more than one health care provider system in the counties in which they operate.
Rep. Bob Dettmer, R-Forest Lake, released the following statement regarding Monday's rate announcement:
This week’s rate release is great news for Minnesotans who have been negatively impacted by year after year of skyrocketing premium increases. Many families, small business owners and others who purchase their own insurance will actually see a rate decrease for 2018 which is a significant turnaround from a nearly 60 percent increase just last year.
Republicans crafted reforms this session to address affordability, accessibility, stability and choice for Minnesotans who purchase their own insurance and those reforms are working.