We received positive news from the Minnesota Department of Commerce today when they released preliminary rates for the 2019 individual insurance market. The report revealed that for the second consecutive year, Republican-led reforms have helped reduce or hold flat individual market health insurance rates after years of double-digit increases following the implementation of Obamacare in Minnesota.
Today’s news is further evidence that the reforms enacted and championed by House Republicans are bringing stability to the state’s individual health care marketplace. Following the enactment of Obamacare, the individual marketplace was on life-support with skyrocketing premiums making life miserable for Minnesota families. Now, for the second year in a row, Minnesotans will see their premiums go down thanks to our reforms. It’s clear that we’re on the right track in reversing the damage caused by Obamacare.
All five carriers on the individual market are projected to decrease premiums for 2019, with average preliminary rates dropping between 3% and 12.4%.
From 2014-2017, before Republicans were able to implement reforms, average rates had increased by double digits every year, including nearly 60 percent for 2017.
In fact, last year, the Minnesota Department of Commerce confirmed that without Republican led-reforms, rates would have risen by 20% or more.
Again, this is great news and we will get final numbers on 2019 rates in October. Nevertheless, we are on the right track in getting health care fixed here in Minnesota.
Staying in Touch
As always, if you have any questions regarding this legislation or any other matter of state government, please do not hesitate to reach out to me. I can be contacted by phone at 651-296-4229 or via email at email@example.com.
Thank you and have a great weekend,