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2021-2022 Regular Session

Law reauthorizes Minnesota Premium Security Plan

The state’s reinsurance program will continue under a new law that reauthorizes the Minnesota Premium Security Plan for five years and funds it at $890 million for three years.

Reinsurance is designed to stabilize premiums in the individual health insurance market, which covers more than 165,000 people. The state pays a portion of very high medical bills, offering insurers in the individual market a backstop.

The legislation also requires insurers to cover postnatal visits and offer an option to spread out a person’s drug co-pay throughout the year.

Sponsored by Rep. Zack Stephenson (DFL-Coon Rapids) and Sen. Gary Dahms (R-Redwood Falls), the legislation met an April 1 deadline to reauthorize the program needed for a Centers for Medicare and Medicaid Services waiver. The law various effective dates.


New Laws 2023

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SF3472* / HF3717 / CH44
House Chief Author: Stephenson
Senate Chief Author: Dahms
Effective Dates: See chapter summary in the file link above.
* The legislative bill marked with an asterisk denotes the file submitted to the governor.