Post by Logan on Jun 12, 2016 21:28:01 GMT -6
Shrinking health insurance market could push up Minnesota premiums
Minnesota’s market for individuals and families to buy private health insurance has fallen far short of enrollment projections, and actually got smaller between December and March.
Both factors were highlighted by a report Tuesday from the trade group for Minnesota health insurers, and they add to concerns that premiums could be on the rise again next year.
The report from the Minnesota Council of Health Plans hinted that the state’s individual market might lack a critical mass of young and healthy subscribers to offset older people who are more likely to have costly health problems.
But the more central finding is that the individual market is about 260,000 people smaller than was previously projected, said Jim Schowalter, president of the Council of Health Plans. “There are fewer people to share the costs,” he said.
Read more: www.startribune.com/shrinking-health-insurance-market-could-push-up-minnesota-premiums/382161541/
Minnesota’s market for individuals and families to buy private health insurance has fallen far short of enrollment projections, and actually got smaller between December and March.
Both factors were highlighted by a report Tuesday from the trade group for Minnesota health insurers, and they add to concerns that premiums could be on the rise again next year.
The report from the Minnesota Council of Health Plans hinted that the state’s individual market might lack a critical mass of young and healthy subscribers to offset older people who are more likely to have costly health problems.
But the more central finding is that the individual market is about 260,000 people smaller than was previously projected, said Jim Schowalter, president of the Council of Health Plans. “There are fewer people to share the costs,” he said.
Read more: www.startribune.com/shrinking-health-insurance-market-could-push-up-minnesota-premiums/382161541/