CAMBRIDGE, MINN – On Monday the Minnesota Department of Commerce released final rates for the 2018 individual insurance market, confirming that Republican-led reforms helped reverse the four straight years of double-digit premium increases and helped to expand health care choices to Minnesota families. According to the Minnesota Department of Commerce, rates would have risen by 20 percent or higher without Republican reforms. The individual market serves Minnesotans who do not receive health insurance through their employer or the government.
Over the past four years, premium rates increased by double digits every year, including nearly 60 percent just one year ago. As a result of the reinsurance program recently approved by the federal government, all current insurers will continue serving the individual market next year. In addition, Republicans successfully pushed to expand health care options and improve access to hospitals and doctors. As part of the reinsurance legislation, providers are now required to offer in-network access to more than one health care provider system in the counties in which they operate.
Rep. Brian Johnson, R-Cambridge, released the following statement regarding Monday's rate announcement:
Republicans in the House and Senate brought some needed stability to our individual market and put a stop to annual double-digit rate hikes. This is great news for folks who purchase their own insurance and have struggled with yearly out-of-control premium increases, including nearly 60 percent in 2017.
What we know is that Obamacare and MNsure have hurt too many Minnesotans, but at the state-level, Republicans are implementing real solutions to lower the cost of health care, improving affordability and accessibility on our individual market.