St. Paul, Minnesota — Today, the Obama Administration released information on premiums in the 36 states where the federal government is setting up health insurance exchanges, along with average premium costs for 47 states. This information confirms that Minnesota will have the lowest average premiums nationwide on plans sold through exchanges.
Minnesota’s weighted average premium for the lowest cost bronze plan is $144, with the average premium for both the lowest cost and second lowest cost silver plans at $192. The weighted average premium does not include potential subsidies (which would further lower premiums).
“Now Minnesotans will not only have the best health care in the nation, they will also have the lowest cost in the nation,” said Rep. Joe Atkins (DFL – Inver Grove Heights), chief author of the exchange law in the Minnesota House. “This is great news for individuals, families, and small businesses who have struggled to get affordable insurance for years.”
Premiums for the lowest cost bronze plans among states with federal exchanges range from $174 in Oklahoma to $425 in Wyoming. Silver plans on federal exchanges range from $235 in Tennessee to $489 in Wyoming.
“If we had gone the route our Republican colleagues had pushed for — a one-size-fits-all federal exchange — every Minnesotan would be paying more,” said Atkins. “Our Minnesota-based solution with strong competition and strong oversight is already working for Minnesotans.”
Iowa’s average premiums are $212, $266, and $287 for bronze plans, lowest cost silver plan, and second lowest cost silver plan respectively. North Dakota’s are $281, $350, and $353. South Dakota’s are $298, $341, $357 and Wisconsin’s are $287, $344, and $361.
“Come to Minnesota for the better economy, stay for the more affordable health care – that’s what we should put on a billboard at the Wisconsin border,” said Atkins. “Minnesota’s thriving economy has been outpacing our neighboring states and this good news helps us widen the lead.”
The full report from the Department of Health and Human Services can be found here.
|
State
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Lowest Cost Silver Plan
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Second Lowest Cost Silver
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Lowest Cost Bronze
|
|
Iowa
|
$266
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$287
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$212
|
|
Wisconsin
|
$344
|
$361
|
$287
|
|
North Dakota
|
$350
|
$353
|
$281
|
|
South Dakota
|
$341
|
$357
|
$298
|
|
Minnesota
|
$192
|
$192
|
$144
|