ST. PAUL – The Minnesota Department of Commerce on Monday 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 – particularly in rural areas.
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. Bud Nornes, R-Fergus Falls, released the following statement regarding Monday’s rate announcement:
“This news brings optimism to a subject that has been a source of stress for people,” Nornes said. “The double-digit premium increases year after year were unsustainable and left people in desperate positions, so it is fortunate to see reforms we put in place this year have stopped that trend. We also need to realize this is not a cure-all for a seriously flawed system and I look forward to continuing our work in the House to increase affordability and accessibility for people’s health insurance on the individual market.”