Health insurers have filed proposed rates for individual health plans to be offered through Minnesota's Affordable Care Act exchange, MNsure, in 2018.
Insurers were required to submit two sets of proposed rates — one with the state's reinsurance program and one without it. Minnesota, in early 2017, enacted a law to create a state reinsurance program, Minnesota Premium Security Plan, to help stabilize premiums in the state's individual market. Implementation of the program is contingent on federal approval, which is pending.
Blue Plus, Group Health, Medica Insurance Co., PreferredOne Insurance Co. and UCare will offer plans in the individual market. The proposed average rate change with reinsurance for individual plans range from a decrease of 40.8% to an increase of 11.4%. Without reinsurance, the average rate change ranges from a decrease of 25.5% to an increase of 31.7%.
In the small group market, Blue Cross, Blue Plus, Gundersen, HealthPartners Inc., HealthPartners Insurance Co., Medica Insurance, PreferredOne Community Health Plan, PreferredOne Insurance Co. and Sanford will be offering plans in 2018. Average rate increase ranges from 0.4% to 20.0%.
The rate requests are preliminary and will be reviewed by the Minnesota Commerce Department. Final 2018 rates will be announced by Oct. 2.