Minnesota Senate Media Services
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Senate Passes Measure Extending Health Care Reinsurance Program
Posted
March 11, 2019
Views
102
March 11, 2019
102
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1:33:03Now PlayingIn an effort to stabilize health care premiums in the individual market, the Senate passed a bill that would extend the current health care reinsurance program another three years. Sponsored by Senator Gary Dahms, R-Redwood Falls, the bill would take advantage of the balance remaining of the initial $542 million dollars allocated to the program.
The Minnesota Premium Security Plan was created in 2017. According to Dahms, every county has at least one option for health insurance, and insurance companies have been able to avoid high rate hikes because potential insurance losses are offset by the state reinsurance program. The Senate action recognizes that insurance companies will be submitting rates for 2020 later in March.
Attempts by Senator Matt Klein, DFL-Mendota Heights, to substitute Governor Tim Walz's proposal to offer rebates to MNsure enrollees and tax credits to Minnesotans buying their insurance in the individual market failed to win a majority of Senators' support.
The bill was sent to the House of Representatives.
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