ST. PAUL, MN -- On Monday, October 2nd, 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—particularly in rural areas. 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.
“This past legislative session, my Republican colleagues and I prioritized reforming the state’s individual health insurance market,” said Rep. Brian Daniels (R-Faribault). “As a result, many Minnesotans who purchase coverage off the individual market will now see reductions in their health insurance costs. While this is not a complete fix, it did prevent rates from rising by roughly 20% or more, according to the Minnesota Department of Commerce.”
Daniels concluded, “I look forward to continuing to tackle this issue next session and working towards more long-term solutions.”