Health care reform advanced by the Minnesota Senate Republicans has reversed a disturbing trend of rate increases which has plagued Minnesota’s individual health care market, the Minnesota Department of Commerce reported on Monday.

This reform, known as reinsurance, was introduced by Senate Republicans during the 2017 legislative session to level off projected costs and expand access to doctors and hospitals for the people of Minnesota. In the past Minnesotans on the individual market had come to expect dramatic annual premium increases ranging as high as 50 to 67%. Fortunately, as result of this reinsurance, Minnesotans in the individual market in 2018 will see a much more positive result with some rates decreasing as much as 38% and none of the rates increasing by more than 2.8%.

Sen. Bill Ingebrigtsen (R- Alexandria) released the following statement:

“Minnesotans have long been asking for reform to our state’s broken health insurance market. After a devastating trend of double-digit premium increases, which occurred under Democrats, our individual insurance market once stood at the edge of collapse. By making reinsurance a priority, Republicans were able to deliver on our promise of new and innovative reform. After only one year in the majority Senate Republicans have passed two great pieces of health care legislation that have provided an immediate impact giving Minnesota’s health care market the relief and stability that it desperately needed.  While there are still challenges yet to come, I’m confident that the legislature will continue to work towards bringing affordable and quality healthcare back to Minnesota.”