The increases were announced Friday by the state
At that point, carriers sought increases ranging from 36 percent to 67 percent. But the final average increases will range form 50 percent to 67 percent, depending on the insurer.
The changes impact the individual market, where about 5 percent of state residents buy coverage. It's the portion of the market that includes the state's MNsure exchange, and has undergone significant changes with the federal Affordable Care Act.
Insurers across the country have proposed large rate increases, or have opted to drop out of the market for 2017, due to mounting financial losses.
"The rate increases are higher than anyone would like," said Commerce Commissioner
They came up with temporary measures to shore up the market, Rothman said, including what he called "capacity limits" on how many people can buy policies from
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