Health Care Choices and Premiums: What’s Going on in Minnesota

COMMENTARY Health Care Reform

Health Care Choices and Premiums: What’s Going on in Minnesota

Jul 18, 2018 1 min read

  • Over the first three years of Obamacare, per capita monthly premiums in Minnesota increased by 87%, from $235 in 2013 to $439 in 2016.
  • Over the first five years of Obamacare, 33% fewer insurers offered Exchange coverage in Minnesota, from 6 in 2013 to 4 in 2018.
  • 2019 Rate Request: Minnesota is 1 of 3 states that currently have in effect federal waivers from Obamacare’s mandates that make it easier to put in place risk mitigation programs. As a result, all of Minnesota’s five individual market insurers submitted average rate change requests for 2019 that are below 2018 rates, ranging from a decrease of 3% to a decrease of 12.4%. The effects of the waiver were apparent in the 2018 plan year, where the final average rate changes were an increase of 2.4% for one insurer with the other four insurers decreasing their average rates by between 0.4% and 38%.
  • 2019 Rate Finalized: Finalized by mid-October

Health care remains a major focus of the public discussion as premium prices rise and choices dwindle. Throughout the summer and into the fall, Obamacare insurers will announce decisions about the prices they want to charge and plans they want to offer next year, submitting them to regulators for review and approval. Research shows prices have been rising steadily since Obamacare was first implemented, more than doubling in some places because of its failed policies and regulations.

The best way to provide relief for Americans struggling under these heavy burdens is to replace Obamacare with free-market solutions that put patients and doctors—not federal bureaucrats—in charge of health care decisions and dollars.

The three states that have begun to provide this kind of relief – after being granted federal waivers from Obamacare - are seeing rate reductions. Congress should go farther and make it easy for states to take these actions.

    MinnesotaThis piece was authored by Ed Haislmaier.

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