For more information contact: House GOP Communications 651-296-5522
ST. PAUL, MN—On Monday the Minnesota Department of Commerce released final rates for the 2018 individual insurance market, confirming that a number of reforms passed by the Legislature this year helped reverse the four straight years of double-digit premium increases. According to the Minnesota Department of Commerce, rates would have risen by 20 percent or higher without these 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, the Legislature 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. Dario Anselmo, R-Edina, released the following statement regarding Monday's rate announcement:
“Many Edina residents, families and small business owners were hurt by year after year of rising premium costs, and we worked diligently at the Legislature this year to reverse that trend, addressing affordability, accessibility and choice. I know that action on health care at the federal level is still unclear, but here in our state, we have put forward real solutions to check rising costs on the individual market, helping thousands of Minnesotans who purchase their own insurance.”
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