September 21, 2017 11:10 AM
(ABC 6 NEWS) - MNsure open enrollment is fast approaching, but the State is still anticipating the decision of a proposal that would dramatically reduce premiums by 20% for those on the individual market.
Those on the individual market include people without employer’s insurance, retirees, entrepreneurs, self-employed, etc. who would benefit greatly from a premium cut this next open enrollment.
“The trick is that it has to be approved by the federal government…the really important part for consumers is that with this approval…it will bring premiums down by 20% for Minnesotans,” said MNSURE CEO, Allison O’Toole.
Minnesota is required to announce 2018 individual market rates by October 2nd, but according to the Pioneer Press federal law gives the Centers for Medicare and Medicaid Services until after Christmas to make a decision.
However, O’Toole tells ABC 6 News she’s confident the proposal will be approved, even as soon as this week. When asked what would happen if it wasn’t approved by October, she said this would be a question for the Governor and the legislature.
“I think they have some options available to them and they’d have to go to plan B. What I know for sure is that Minnesotans need relief. This bill and state initiative has shown promise in that regard bringing premiums down by 20%.”
MNsure open enrollment begins November 1 and lasts through January 14, 2018.
Updated: September 21, 2017 11:10 AM
Created: September 19, 2017 06:01 PM
Copyright 2017 - KAAL-TV, LLC A Hubbard Broadcasting Company