The Minnesota Senate today voted to extend Minnesota’s successful Reinsurance program for three more years. The Republican reform, which was first implemented in 2017, has been so successful that both local media and national news outlets have lauded the program, and other states have implemented similar models.

“MNsure threw our health insurance market into a death spiral, and reinsurance saved it,” said Senate Finance Chair Julie Rosen (R-Vernon Center). “It stabilized the health care market and lowered costs for countless families who were in the tenuous position of having to choose between paying their premiums or paying for groceries, their mortgage, or their car payment. Reinsurance was an important first step on the road to more affordable coverage for everyone, and today’s vote will make sure we continue to have stability while we work on those bigger, bolder reforms.”

The new Reinsurance bill would not directly cost the state any additional money. Funding comes from a combination of money that was appropriated in 2017 and federal funds.

Source: http://mn.gov/commerce-stat/pdfs/fact-sheet-individual-rates.pdf