Minnesota Health Insurers to Release Final 2018 Rates

Minnesota Health Insurers to Release Final 2018 Rates Photo: KSTP/ File

October 02, 2017 08:43 AM

Minnesota health insurers are finalizing premiums for 2018, and it could be welcome news for residents who buy coverage on their own.

State regulators were expected on Monday to announce final rates for next year. Preliminary rates released over the summer showed insurers were preparing for premiums that range from a nearly 15 percent decrease to an 11 percent hike.

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It follows consecutive years of double-digit increases and concerns about the stability of Minnesota's individual market. But those lower rates hinged on recent federal approval of a new, $549 million fund created by the state Legislature to help control costs for shoppers in the next two years.

RELATED: Medica to Leave ND Health Insurance Exchange in 2018

The finalized rates may have changed and will vary widely based on age, location and plan for residents.

Open enrollment begins Nov. 1.

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The Associated Press

(Copyright 2017 by The Associated Press. All Rights Reserved.)

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