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Minnesota individual health insurance rates to rise up to 67% in 2017

The Minnesota Department ofCommerce released the 2017 insurance company rates for individual and small group health plans, withrate increases for the seven individual market insurers ranging from 50% to 67%.

For the 10 insurers in the smallgroup market, the 2017 rate changes range from a 1% decrease to an 18%increase.

The individual market rates onlyapply to the 5% of Minnesotans who get their coverage on the individual market,including those who buy health plans through MNsure, the state's market placefor plans under the Affordable Care Act. Minnesota Commerce Commissioner MikeRothman said the rate increases in the individual market are"unsustainable."

Rothman also said the department"pursued every option within its power to avert a collapse" in theindividual market following Blue Cross Blue Shield's announcement that it wasrefocusing itsindividual plan offerings. The insurer decided to limit its individual planofferings to its Blue Plus HMO.