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9) SF 694 - Letter - Agents’ Coalition For Health Care Reform.pdf

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Preview of 9) SF 694 - Letter - Agents’ Coalition for Health Care Reform
🔗 Source: house.mn.gov
📊 Size: 639 KB
👤 Author: twilk
⬇️ Downloads: 76

Summary

The individual health insurance market is crucial for those without employer-sponsored coverage, entrepreneurs, and individuals between jobs or early retirees. Minnesota's Premium Security Plan, a reinsurance program, has helped stabilize this market by offsetting high costs and adverse selection, resulting in 20-27.7% lower premiums in 2018 and 2019. The program, funded by state and federal funds, ensures affordable choices for those with preexisting conditions and has encouraged carriers to remain in the market. To prevent a 25% or more premium increase, legislators must authorize the program's extension beyond 2021 using existing federal funds.

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Description

The individual health insurance market is crucial for those without employer-sponsored coverage, entrepreneurs, and individuals between jobs or early retirees.

Technical Information

  • File Format: PDF
  • File Size: 639 KB
  • Pages: 1
  • Language: EN
  • Author: twilk
  • Total Downloads: 76
  • Last Updated: 2 weeks ago

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