ST. PAUL, MN—On Tuesday, the Minnesota Department of Commerce released final rates for the 2019 individual insurance market. For the second consecutive year, Republican-led reforms have proven to help reduce health insurance rates or hold them flat.
All five of the carriers on the individual market are lowering premiums for 2019, with average rates dropping between 7.4 percent and 27.7 percent. These rate reductions reverse the trend of double-digit increases following implementation of Obamacare in Minnesota.
Now, a Plymouth family of four can save almost $2,000 per year next year as a result of Republican reforms, compared to two years ago. Some Plymouth residents can save as much as $4,296. These savings through the individual market that services self-employed citizens and their families makes Minnesota a national model for lower healthcare costs.
Rep. Sarah Anderson (R-Plymouth) released the following statement in response to Tuesday’s announcement:
“For the second year in a row, Minnesotans who have faced skyrocketing healthcare costs and disappearing choices are receiving positive news because of Republican-led healthcare reforms," said Rep. Anderson. “Following years of rate increases, Minnesotans purchasing health insurance on their own will again see lower prices next year. Although there is still work to do to make healthcare more affordable, today’s announcement further demonstrates that our approach continues to deliver reduced healthcare costs for families across the state.”
From 2014-2017, average rates increased by double digits every year, including up to 67 percent for 2017. Thanks to Republican reforms enacted in 2017, individual market rates for 2018 remained flat or were reduced for most Minnesotans on the individual market. The Minnesota Department of Commerce confirmed last year and this year that without Republican reforms, rates would have risen by 20 percent or more.
Republicans also pushed for and successfully passed other key reforms to increase the number of health care options for Minnesotans by allowing more insurers into the market, a move that is already paying dividends for seniors on Medicare and employees.