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MNSure Insurance Exchange Information

10 Sep

The MN Departments of Commerce and Health along with MNSure, the new state health insurance exchange, had a press conference on Friday September 6th, 2013.  They released new information about the different health insurance plans, rates, and other information.

There are 3 important dates to remember: October 1, 2013; January 1, 2014: and March 31, 2014. Beginning October 1st, everyone may enroll in health insurance plans advertised on MNSure.  However, those health plans along with the new healthcare laws from the Affordable Care Act or ACA (also known as “Obamacare”) starts on January 1, 2014.  March 31, 2014 is the last day for enrollment and everyone needs to some sort of health care insurance or you will be taxed.

When enrollment begins next month, there will be 5 different insurance companies that will sell plans on MNSure.  Of those 5, only 3 will be selling plans for small groups/businesses.  These insurance companies will sell 4 different “metal” plans.

***BUT there are quite a few exceptions, lots of fine print to read, and can be quite confusing.

  • Not all of these health insurance companies will be selling their plans in every part of the state.  Each county will have at least 2 health insurance companies selling health plans.  To see how many health insurance companies will sell plans in your county, see Figure 1 below.
  • In total, there will be 141 different plans offered.  78 plans are for individuals and families while 63 are for small businesses.
  • The rates in Figure 2 are for a non-smoker living in the Twin Cities.  These rates are determined by 4 things: your AGE, your TOBACCO usage, where you LIVE, and the “COMMUNITY RATING.”  The “community rating” is the combined medical costs of everyone in that company’s market.
  • Your monthly premiums are based on the rates and which health plan benefits you choose.  For example, if you choose the “Bronze Plan,” the health benefits under this plan are different than the other plans AND you will have a cheaper monthly premium, BUT more expensive copays and deductibles.
  • These rates DO NOT include the potential tax credits you may be eligible for.  Your eligibility for the different tax credits depends on your income and they may significantly reduce your monthly premiums.
  • You have the option of taking your tax credit immediately so that your monthly premiums are more affordable OR you can claim your tax credits when you file for taxes.  However, you still HAVE to include these tax credits on your tax filings whether you take right away or later.
  • Rates for individual health plans and small employer group coverage will change once per year.
  • MNSure is a PUBLIC health insurance exchange and ANYONE can enroll in a health insurance plan on MNSure.  Some private employers are offering a PRIVATE health insurance exchange BUT ONLY for their employees.  (IBM, GE, and Time Warner have announced their intention to do so)
  • You DO NOT have to buy insurance on MNSure.  You may find some health plans on MNSure to be more affordable than your current health insurance plan and/or may find a plan that offers more benefits at a more affordable price.
  • MNSure is our state version of the health insurance exchange and it is DIFFERENT from the federal version.

If you have any questions, MNSure’s call center will also help small business and individuals answer questions about anything.  Their call center number is: 855-3-MNSURE   or   855-366-7873

If you think you are a Scam/Fraud victim or have questions/concerns about a potential scam/fraud, contact the MN Department of Commerce’s “Consumer Response Team: 651-539-1600 or toll free at 1-800-657-3602

Please do not hesitate to contact our office either: Souvan Lee, 651-757-1740

MNSure FAQ

MN Department of Commerce

Individual Market Plans Offered by:

  1. Blue Cross Blue Shield
  2. Group Health, Inc.
  3. Medica Health Plan of Wisconsin
  4. PreferredOne Ins. Co.
  5. UCare

Small Group/Business Market Plans Offered by:

  1. Blue Cross Blue Shield
  2. Medica Health Plan of Wisconsin
  3. PreferredOne Ins. Co.

Figure 1

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