Health care reform advanced by the Minnesota Senate Republicans looks to have reversed a disturbing trend of rate increases, which had plagued Minnesota's individual health care market, according to a new report released by the Minnesota Department of Commerce on Monday.
The reform, known as reinsurance, was introduced by Senate Republicans during the 2017 legislative session with the intention to level off projected costs and expand access to doctors and hospitals for the people of Minnesota.
Over the past years, Minnesotans in the individual insurance market had come to expect dramatic annual premium increases ranging as high as 50 to 67 percent. Fortunately, as a result of this reform Minnesotans in the individual insurance market in 2018 will see a much more positive result with some rates decreasing as much as 38 percent and one other increasing a minimal 2.8 percent.
Over the past several years many thousands of Minnesotans have been held captive to our state's collapsing individual health insurance market. In my district and across Greater Minnesota families and small business owners have been forced to make tough decisions as they've seen their premium rates dramatically rise while their healthcare options decline. This session, Minnesotans trusted Republicans to tackle the issues. In our first year in the majority, Senate Republicans have championed two new innovative health care initiatives that have provided immediate relief and stability to our broken system. While this was a good first step, we realize it will take more to fix health care in Minnesota. Minnesota Republicans are committed to working until all Minnesotans have access to affordable health insurance options.