Minnesota health plans propose higher premiums for small businesses
The report from the
Groups with 50 people or less buy coverage in the market, which had been shrinking for more than a decade before seeing a sudden rebound in enrollment last year to about 310,000 people. Insurers attributed the increase to consumers likely fleeing premium jumps in the state's individual market.
"Proposed rates for small group market health plans apply to coverage purchased by employers with 2-50 employees," Commerce said in a statement posted on its website.
Final rates with more details including particulars on the network of doctors and hospitals in each health plan will be released by
Depending on the product line,
The average rate increase being sought by
Commerce will review whether the proposed rates are justified both by the benefits that consumers receive and the ability of insurers to pay expected medical claims costs based on premium revenue.
"An estimated 5 percent of Minnesotans currently get their coverage through the small group health insurance market," Commerce said in a statement. "Employers purchase the coverage through insurance brokers/agents or directly from the insurers."
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Minnesota health insurers propose lower premiums
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