4/7/2022 4:36:50 PM
On April 1, 2022, Governor Tim Walz signed a bill to extend Minnesota’s reinsurance program for three more years, funding the program for plan years 2023-2025.
The reinsurance program uses state funds to help insurance companies cover especially high medical bills for Minnesotans on the individual market, including those who buy plans through MNsure. The positive effect of this program is that it makes premiums for many consumers who buy individual market health insurance plans lower than they otherwise would be. The reinsurance program was first enacted in Minnesota in 2017.
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