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
- When new investment trends emerge, Gen Z is most likely generation to be first in
- Could ‘plain English’ become an advisor’s secret weapon?
- IRI urges Senate action on 403(b) parity legislation
- Three estate planning ideas to protect your clients and their wealth
- What advisors must know about accessible client documents
More Advisor NewsAnnuity News
- NUNN INTRODUCES BILL TO CUT RED TAPE, GIVE IOWANS CLEARER INSURANCE INFORMATION
- NAIC working group pressed to accelerate annuity illustration overhaul
- State Auditor James Brown Kicks Off Life Insurance Awareness Month With Policy Locator Tool
- Wink: Annuity sales post strong Q2, led by MYGAs and structured products
- Legacy Marketing Group partners with Malibu Life USA for annuity launch
More Annuity NewsHealth/Employee Benefits News
Life Insurance News