The federal government unveiled the proposed rate increases for Minnesota’s individual health insurance market today, and the news is not good for Obamacare supporters or consumers who purchase their health care plan through MNsure.
The Star Tribune is reporting that thousands will be looking at premium increases of 50% or more in 2017
Will this news finally make Angie Craig and Rick Nolan change their tune on President Obama’s disastrous health care law? Or will they continue to stick to the Democrat script and support Obamacare, or in Rick Nolan’s case, support going even further?
Minnesota health plans seek big premium jumps
Thousands could face increases of 50 percent or more, if approved by regulators.
September 1, 2016
Minnesota health plans are seeking large premium increases next year for people who buy coverage on their own, with some proposed jumps exceeding 50 percent.
The federal government posted the proposals on a website Thursday afternoon, and final rates will be announced Sept. 30.
Minneapolis-based UCare proposed an average rate increase of 66 percent for one of its products. A filing from Bloomington-based HealthPartners requests a 50 percent increase for a health plan that currently covers about 16,000 people.
Eagan-based Blue Cross and Blue Shield of Minnesota is seeking rate increases of anywhere from 35 percent to 66 percent, depending on the health plan.
Health insurers across the country have proposed large premium increases to handle mounting losses in the individual market, which includes policies sold through government-run websites like Minnesota’s MNsure health insurance exchange.
With Thursday’s release of preliminary data, a public comment period begins. Regulators are reviewing the justification for rates, so final premiums could change.