Health reform implementation

Minnesota claims lowest ObamaCare rates in US

{mosads}“I am very pleased that the rates approved by the Minnesota Department of Commerce are the lowest average rates in the country, providing competitive prices and better coverage for our consumers,” Minnesota Commerce Commissioner Mike Rothman said in a statement.

The state approved 78 plans for individuals to choose from, and the final rates were as much as 37 percent lower than what insurers initially had requested.

The rates Minnesota released Friday do not reflect tax subsidies that will help low-income households cover the cost of their premiums. Most people who buy insurance through Minnesota’s exchange will not pay the full rate released by the state. 

Minnesota is operating its own insurance exchange, rather than punting to the federal government. The state also has the power to reject insurers’ proposed rates.

An analysis earlier this week by the Kaiser Family Foundation found that premiums so far have come in lower than expected in the states that have released their rates.

Premiums will still rise for some consumers: namely young, healthy men and people who buy policies with low premiums but high out-of-pocket costs. 

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