MNsure open enrollment begins Saturday with an increase in premiums

Health Insurance Premiums Rise in Minnesota

Residents of Minnesota expecting to purchase health insurance through MNsure, the state’s public marketplace, are likely to be taken aback by rising premiums.

On average, individual market premiums have jumped by 21.5%, while small group premiums saw an increase of 14.2%.

MNsure CEO Libby Kaulum pointed out that the platform aims to assist those without employer-based insurance in finding coverage. While acknowledging the concerns surrounding these increases, she advises consumers to utilize the website’s tools to compare insurance plans and explore potential financial aid.

“You can review all available options based on your location, age, and income,” she mentioned in an interview on “At Issue with Tom Hauser,” also noting the possibility of eligibility for federal tax credits. “Not all tax credits will disappear.”

Minnesota Commerce Commissioner Grace Arnold encourages consumers to evaluate different health insurance plans to find the best match for their medical needs. She remarked that premiums can vary slightly based on the specific carrier, echoing that, “These are averages. These are the highest averages I’ve seen here.” Arnold has held the Secretary of Commerce position since 2020 and, alongside Kaulum, expressed hopes that the federal government will extend health insurance subsidies to help mitigate premium hikes.

The ongoing federal negotiations are creating uncertainty as Democrats push for an extension of federal health insurance tax credits amid a government shutdown. “We can’t do it alone,” Arnold said, also emphasizing the importance of state financial aid. “We need a partnership. I think that’s what you’re hearing when we talk about extending these tax credits. This is the additional support we really need from the federal government to keep insurance premiums more affordable.”