Individual Health Plan Rates on the Rise

Commerce Commissioner Mike Rothman announced Thursday, October 1, 2016 health insurance company rates at a press conference in the State Office Building. Small group health plans will experience some premium increases but individual health plans will bear the brunt of the rate hikes, ranging from 14 percent to 49 percent over the previous year. While the Department of Commerce determined the final rate increases met actuary requirements, Commissioner Rothman called the new rates "unacceptably high" and offered a four part plan to help Minnesotans access affordable care. "The individual market is not working as well as it could," Rothman said, "Minnesotans expect and deserve better."

Interim MNsure CEO, Allison O'Toole, strongly encouraged individual policy holders to research and evaluate all of their options during the upcoming open enrollment period. She acknowledged that rates are going up but that federal tax credits, available only through the MNsure site, may also go up and could help to mitigate the premium increases. "It is critical," O'Toole said, "for Minnesotans to shop and compare this year and see if they can save money." The open enrollment period for MNsure begins November 1, 2015.

Senate Republicans reacted to the rate hikes and to the MNsure system after the press conference. "It's time for Gov. Dayton to stop blaming others and begin offering real solutions to the mess that is MNsure. Republicans in the Senate are ready to help," said Senate Repubican leader David Hann is a written statement.