2015 MNsure Enrollees Saved Nearly $50 Million In Premium Costs
St Paul,MN (KROC AM News) - MNsure says Minnesotans who enrolled in qualified health plans through the state marketplace this year saved an estimated $48 million in health insurance premiums.
That’s around $17 million more than the savings from last year, or more than 50 percent higher. MNsure says the savings were the result of federal tax credits that are available only through the exchange.
On average, about 55 percent of people who enrolled in a qualified health plan through MNsure this year received a federal tax credit, compared to 40 percent in 2014.
“This is real money for Minnesota families, and for months we’ve been saying that MNsure is the only place to take advantage of these federal tax credits. Today we’re really able to show just how much Minnesotans are saving,” said CEO Allison O’Toole. “These tax credits act like instant discounts off monthly health insurance premiums, and it’s not too late to take advantage of these credits for 2016. Minnesotans have until January 31 to enroll.”