Friday, September 02, 2016

Another MNsure success story

Do you have insurance through MNsure? Good luck paying for it next year:
Minnesota health insurers are seeking big premium increases next year for people who buy coverage on their own, with proposed jumps for thousands of people averaging anywhere from 36 percent to 67 percent.

About 270,000 people buy coverage through Minnesota’s individual market, where shoppers buy through insurers, brokers or the state’s MNsure health insurance exchange.

Insurers defend the proposed spikes as necessary given escalating medical costs among enrollees. One health plan, in fact, said the only alternative would be to drop out of the market entirely.
Yeah, the numbers don't look good, especially if you have UCare -- they want to go up 66% But don't worry -- Mark Dayton is gonna subsidize you!
Gov. Mark Dayton said in a statement that consumers should check MNsure to see if they can obtain a tax credit.
Uh oh -- "if." Better not make too much money, otherwise you're gonna be on the hook for the whole thing. And if that's a family plan, it's a big hook:
Rates vary by region. In Rochester, the benchmark plan for a 40-year-old costs $335 per month, compared with $290 per month in Duluth.

The dollars get considerably bigger for people in family plans, where some cite annual health insurance costs of $25,000 to $30,000. With the information released Thursday, consumers still don’t know exactly what will happen to their costs, since the increases are averages of rates that can vary considerably according to age and geography.
Do you happen to have 30 large lying around somewhere?


W.B. Picklesworth said...

The price of the president's vanity is incredibly high.

Bike Bubba said...

Mark, shame on you for posting this. Everybody knows that the Health Insurance Deform Act was guaranteed to bend the cost curve DOWN, and hence it's entirely impossible that this is happening.


Seriously, the price of the President's economic ignorance, and that of his party, is indeed incredibly high. Let's just say that the last time I needed to buy insurance for my family of eight, the price was about a third of what you're talking about for the exchanges, and that was not that long ago. And the scary thing is that even with these rate hikes, a lot of doctors and care facilities aren't exactly jumping to work with these plans.