Minnesota health plans seek only modest premium increases
ST. PAUL, Minn. (AP) — Minnesota’s health insurers are seeking relatively small premium increases and in some cases cuts for patients who buy coverage on the individual market.
The Commerce Department says the Blue Cross HMO is seeking a 4.8% increase for next year, while HealthPartners wants a 2.1% increase and UCare plans on a 0.3% increase. Meanwhile, Medica is seeking a 1.4% average cut and PreferredOne wants to drop its rates 10%.
The rates apply to the individual market, where about 141,000 Minnesotans bought coverage last year, including those using the state-run MNsure exchange. The market has been highly volatile over the past five years, but the Star Tribune reports the numbers released Tuesday are another sign of relative stability.
GOP House Minority Leader Kurt Daudt says the steady or falling rates show Minnesota’s reinsurance program is working.
Information from: Star Tribune, http://www.startribune.com