Insurers in Minnesota requested premium rate increases ranging from about 36 percent to over 66 percent on individual Affordable Care Act exchange plans next year.
The approximately 5 percent of Minnesota residents, or 270,000 individuals, who purchase insurance through the state's MNsure exchange would be affected by the rate increases, if approved.
Here are four things to know.
1. Proposed increases on individual plans include Eagan, Minn.-based Blue Cross and Blue Shield of Minnesota's 35.8 percent to 66.5 percent increase; Minneapolis-based Group Health Plan's 51 percent increase; Bloomington, Minn.-based HealthPartners' 43 percent increase; and Minneapolis-based UCare's 66.4 percent increase.
2. Proposed rate changes on small group plans include BCBS of Minnesota's 11.7 percent to 23 percent increase; Owatonna, Minn.-based Federated Insurance's 18 percent increase; Onalaska, Wis.-based Gundersen Health Plan's 8.2 percent increase; HealthPartners' 7.7 percent increase; Minnetonka, Minn.-based Medica's average 3.4 percent increase; and Sioux Falls, S.D.-based Sanford Health Plan's 7 percent increase.
3. BCBS of Minnesota announced in June it would stop offering broad-reaching and flexible individual health plans, affecting about 103,000 individuals.
4. The public comment period has begun. Final rates will be available Sept. 30.
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