Feb. 20--Nearly 116,000 Minnesotans lost health insurance over the past two years, marking an abrupt turnaround in health coverage gains that began after enactment of the Affordable Care Act.
Minnesota's uninsured rate went from 4.3 percent in 2015 to 6.3 percent in 2017, fueled by a drop in the number of employers who offered coverage as well as people exiting the individual market, where health insurance premiums rose significantly in 2016.
It is the largest increase in the state's uninsured numbers since 2001.
"It is particularly concerning that we are seeing a decrease in health insurance coverage of this magnitude during a time of economic growth and low unemployment," said Stefan Gildemeister, state health economist at the Minnesota Health Department.
In a survey of 12,000 Minnesotans conducted by the University of Minnesota, reasons given for lost coverage included losing a job that offered health insurance, losing eligibility for insurance and high costs.
More than half who lost coverage said they couldn't afford to keep their policy and couldn't afford to buy a new one.
Of the 350,000 Minnesotans without health coverage, most were young adults, had lower income levels and were minorities.
___
(c)2018 the Star Tribune (Minneapolis)
Visit the Star Tribune (Minneapolis) at www.startribune.com
EDITORIAL: Our final U.S. House endorsements
Democrat leaders name Mermaid Factory owner as favorite to take on Rep. Scott Taylor
Advisor News
- Trump bets his tax cuts will please Las Vegas voters on his swing West
- Lifetime income is the missing link to global retirement security
- Don’t let caregiving derail your clients’ retirement
- The ‘magic number’ for retirement hits $1.45M
- OBBBA can give small-business clients opportunities for saving
More Advisor NewsAnnuity News
- Human connection still key in the new annuity era
- Lifetime income is the missing link to global retirement security
- ‘All-weather’ annuity portfolios aim to sharply limit rainy days
- Annuity income: The new 401(k) standard?
- Smart annuity planning can benefit long-term tax planning
More Annuity NewsHealth/Employee Benefits News
- DeSantis administration gets pushback for its child health policies
- Minnesota health plan; the real story
- LIFESPAN: Tickets? Check. Medical insurance coverage? Better check on that
- Trump admin seeks health-care price transparency
- Costs of Illinois state employee health benefits continue steep rise
More Health/Employee Benefits NewsLife Insurance News
- AI and life insurance: Fast today, unpredictable tomorrow
- Judge allows PHL policyholders to intervene, denies ‘premium holiday’
- eHealth expands into final expense insurance
- CID hosts info session for PHL Variable policyholders
- ‘Seismic changes’ cloud global economy, analyst says
More Life Insurance News