Regulators are making a last-ditch push to recruit more health plans to the MNsure exchange for 2017, particularly insurers that are willing to sell coverage outside the Twin Cities metropolitan area.
Open enrollment for 2017 health plans is less than three months away. The lateness of the request suggests significant concern about a lack of competition in the individual market, where there already are fears that premiums could spike next year as carriers scale back their offerings, the Star Tribune reported Saturday.
“This is a distress call,” said Stephen Parente, a health insurance expert at the University of Minnesota. “This is for the 2017 year, and you’re putting it out on August 15th? You should be putting this out on Jan. 15th or Feb. 15th.”
Regulators this past week asked interested parties to propose waivers of state laws or rules that would allow them to offer new coverage to residents outside the seven-county metro area.
“The goal of this effort is to allow innovative health insurance products that can foster additional competition, choice and meet the needs of Minnesota’s individual insurance market,” the Minnesota Department of Health said in a statement.
Insurers are being asked to provide at least one health plan option that could be sold through MNsure in one or more counties.
MNsure and health insurance exchanges for all other states were launched for 2014 under the Obama administration’s health care overhaul. Concern about competition on the exchanges has been growing in recent months as three of the largest national insurers announced pullbacks, along with similar moves by regional players.
MNsure is an option for the roughly 5 percent of Minnesota residents who buy health insurance on their own – who don’t get their insurance from employers or government-funded programs. The state Commerce Department and insurers are negotiating what plan options will be sold on MNsure for 2017 and at what price. The department expects to release final approved rates with plan details by Oct. 1. Open enrollment is Nov. 1 through Jan. 31.
Date: August 20, 2016