Tax Credits May Help Minnesotans Deal With Higher Health Insurance Costs
ST. PAUL, Minn. (AP) —MNsure is entering its third year with a stronger weapon: bigger tax credits to combat rising premiums.
Minnesota residents will see higher prices when open enrollment begins November 1st. Health insurance rates are poised to rise between 14 percent and 49 percent on average for next year.
MNsure's interim Chief Executive Officer Allison O'Toole says the rising premiums make tax credits available only through the exchange even more potent. That financial help is a major selling point for the exchange as it looks to expand enrollment.
The exchange has continually fallen short of projections for private plan signups. MNsure is boosting its efforts by partnering with 20 insurance agencies. Last year it worked with just 6 such broker enrollment centers.
O'Toole says those organizations help MNsure find more customers.