Rep. Miller Supports Proposal to Lower Health Insurance Premiums
A plan that could reduce health insurance premiums by nearly 20 percent has been approved on a bipartisan basis in the
"My agricultural cooperative health plan proposal was an important first step towards addressing our health care crisis, and this legislation continues that positive progress for those struggling to pay their health care premiums," Miller said. "Non-partisan analysts tell us this program could reduce premium rates by 18 percent or more, which is why it's so important that we passed the legislation off the House floor."
According to the bill, the Minnesota Premium Security Plan will be administered by the
The MCHA board, comprised of members of the public and health plan experts, will design payment parameters to mitigate risk, stabilize or reduce premium rates, increase participation, and account for federal funding available for the plan.
The board will have authority to set:
* Attachment point beyond which costs are eligible (
* Coinsurance rate (between 50-70 percent)
* Reinsurance cap (
Parameters will be submitted to the
With
"Reinsurance is going to protect our residents who are in this high risk pool, allow us to stabilize the individual market and open up the door for insurance companies to return," Miller said. "In short, we believe it will make health insurance more affordable and increase access."
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Rep. Davids Reinsurance Bill Approved in Minnesota House, Could Lower Health Insurance Premiums by Nearly 20 Percent
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