Nationally recognized MN Premium Security Plan reverses years of double-digit premium hikes

This week the Minnesota Department of Commerce released final rates for the 2019 individual insurance market. For the second consecutive year, reforms supported by Senator Paul Anderson [R-Plymouth] have proven to help reduce or hold flat individual market health insurance rates across the state. This comes after years of double-digit increases following the implementation of the Affordable Care Act in Minnesota.

“One of the most common issues I hear about from members in our community is the price of health care,” said Senator Anderson. “After years of facing health insurance increases of up to 67%, Minnesotans now are seeing decreases over 27%. There is more work to do, but these bold, innovative reforms are the first step in continuing to lower health care costs in our state.”

All five of the insurance carriers on Minnesota’s individual market are lowering premiums for 2019, with average rates dropping between 7.4 percent and 27.7 percent. For example, next year, a family of four could save $6,348 and a 61-year-old could save $4,296 compared to rates two years ago. The individual market serves Minnesotans who buy health insurance on their own, not through an employer or the government.