Minnesota Premium Subsidy Program cuts health insurance premiums by 25%
Policyholders with Blue Plus, HealthPartners, Medica and PreferredOne are seeing the discount.
Minneapolis, Minnesota--Photo via Doug Kerr
Most Minnesotans who buy health insurance on their own are now paying 25 percent less in monthly premiums, thanks to the Premium Subsidy Program law recently passed by the state's legislature. Throughout 2017, the state is picking up 25 percent of the premium for eligible Minnesotans.
The Premium Subsidy Program is managed by the state's health insurers on behalf of the state. Rules for administering the program were developed by Minnesota Management and Budget, and reviews will be completed by the state's legislative auditor. Health insurers are doing the programming and logistics for their policyholders on behalf of the state. The program lasts throughout calendar year 2017.
[Also: Minnesota the best state for healthcare, Alaska the worst, WalletHub says]
The discount starts when a person's 2017 policy became effective. Policyholders with Blue Plus, HealthPartners, Medica and PreferredOne are seeing the discount in what they owe in May. People with UCare insurance saw their first discount this month.
Those who buy health insurance on their own do not have to do anything to get the discount; the health insurer automatically includes it for people who are eligible. In some cases, the credit from the discount is more than the amount owed for May. If that happens, no payment is needed and no money will be withdrawn from the accounts of people who pay with electronic funds transfer.
Twitter: @JELagasse
