The Minnesota Commerce Division on Monday, Oct. 2, will announce premium costs and different particulars for 2018 particular person medical insurance insurance policies. These are the insurance policies purchased by individuals not coated by employer or authorities insurance policies.
Commerce Division officers say that when the figures are introduced, they can’t change.
That’s excellent news for particular person coverage purchasers, who nonetheless may have few decisions and in lots of instances excessive prices.
“These poor individuals have had sufficient confusion,” stated spokeswoman Eileen Smith of the Minnesota Council of Well being Plans.
After the announcement, individuals with insurance policies should obtain letters from present insurers by Nov. 1 with particulars about what will probably be out there subsequent yr. Earlier than that, nevertheless, the state-run MNsure web site will give potential coverage purchasers an opportunity to match choices.
Preliminary info exhibits many particular person insurance coverage coverage premiums might be about the identical, or perhaps even decrease, subsequent yr. That’s due largely to a brand new state regulation that establishes a “reinsurance” program that makes use of state and federal funds to assist pay for a number of the extra-costly well being care claims.
Whereas huge will increase are usually not anticipated, charges to be formally introduced Monday nonetheless are anticipated to be close to the excessive ranges Minnesotans are struggling to pay this yr.
State officers have been notified in current days that the federal authorities accredited the reinsurance plan and can contribute $338 million. On the similar time, federal officers withdrew barely greater than that quantity that state leaders anticipated from Washington to assist fund MinnesotaCare, a sponsored medical insurance program for the working poor.
“We’re nonetheless sorting by means of this,” Gov. Mark Dayton stated this week.
All 10 members of the Minnesota congressional delegation have demanded an evidence of why Minnesota is dropping the MinnCare cash, which Dayton stated federal officers had promised till just lately.
Rep. Jason Lewis, a Republican who represents the south Twin Cities and areas south of that, stated: “I’ll proceed to work in order that Minnesota has as many choices as potential beneath this demonstrably failed experiment,” a reference to the federal Reasonably priced Care Act, higher often known as Obamacare.
Dayton stated he felt betrayed by federal officers after months of negotiating the reinsurance plan.
“I’ve expressed my robust opposition to the federal authorities’s proposed cuts to MinnesotaCare, upon which one hundred,000 Minnesotans rely for high quality, reasonably priced well being protection,” Dayton stated….