Today, the Senate passed Senate File 694, a bill that would extend the reinsurance program in Minnesota through 2022. Minnesota’s reinsurance plan was originally passed in 2017 when the individual marketplace was much more unstable. It provided state money to encourage – but not require – insurance companies to lower their advertised premiums. In response to this bill, Senate DFL Leader Susan Kent (DFL-Woodbury) released the following statement:
“While reinsurance has helped stabilize the individual insurance market, it was never meant to be a long-term solution. This bill offered no plan for what happens after 2022 when our federal waiver expires. We need true reform in our health care industry that includes improved overall health outcomes and a plan that not only incentivizes affordability but requires it.” said Leader Kent. “The reality is that healthcare is still not affordable for the average working family, and every day, people choose not to go to the doctor for care, or fill a needed prescription, because they can’t afford it. We should work together for a plan to directly help those Minnesota working families struggling with healthcare costs and a broken healthcare system.”
This year, Senate DFLers have introduced legislation that truly creates better and more affordable healthcare options for Minnesotans. These are the widespread reforms we truly need to make to reduce the costs Minnesotans pay for healthcare, that provides assurances and accountability to taxpayers.