Monday, September 28, 2015

Health insurance premiums to rise for thousands in Minnesota, but how high? State regulators to reveal new rates for those who buy on their own.

The Star Tribune reports:
Thousands of Minnesotans who buy health insurance on their own are bracing for final word on whether their premiums will spike next year.

On Thursday, the Minnesota Department of Commerce is scheduled to release 2016 rates for shoppers who buy individual policies.

Four insurers that collectively cover most people in the market are seeking average increases of more than 20 percent each, including a proposed jump of more than 50 percent for about 179,000 people with coverage from Eagan-based Blue Cross and Blue Shield of Minnesota — the state’s largest health insurer.

In ruling on the requests, regulators must walk a line between satisfying consumers who want low rates and insurers who say the business can’t be sustained at current premium levels.
Expensive when choices are limited.