MN Health Insurers Proposing Mostly Lower Rates For 2019
After a few years of price spikes, health insurers in Minnesota’s individual markets are proposing mostly decreased premium rates for 2019.
The average decrease could range anywhere from 3 percent to more than 12 percent for consumers, according to data released Friday by the Minnesota Department of Commerce. The proposed rates are preliminary and will be reviewed by the Commerce Department and finalized later this year.
The rate proposals reflect a newfound profitability for insurers in the market and the impact of stated-funded reinsurance programs that offset the cost for consumers with high medical expenses. The Commerce Department said the actual change in rates for individual consumers could vary based on health plan specifics, age, and geography.