10/2/2017 1:00:00 PM
FOR IMMEDIATE RELEASE
ST. PAUL, Minn.—As final 2018 individual market health insurance rates are released by the Minnesota Department of Commerce, MNsure is encouraging Minnesotans to learn about important cost-saving opportunities available only through the state’s online health insurance marketplace.
The cost savings comes in the form of an advanced premium tax credit. These federal tax credits act like instant discounts, reducing the monthly out-of-pocket cost a Minnesotan pays for their health insurance coverage. An individual earning up to $48,240 a year, or a family of four earning up to $98,400 a year could qualify. /financial-help/income-guidelines/index.jspAdditional income thresholds are available on the MNsure website.
“Many Minnesotans and their families are leaving money on the table,” said MNsure CEO Allison O’Toole. “While premiums have stabilized this year, all Minnesotans should take a few minutes to visit mnsure.org and find out what their options are to save money. For Minnesotans that qualify for these tax credits, it can make big difference in their monthly budget.”
Currently, two out of three MNsure enrollees qualify for an advanced premium tax credit, with average savings for a household at over $7,000 a year.
Open enrollment begins November 1 and goes through January 14, 2018.
“MNsure has more than 1,500 /help/find-assister/index.jspcertified brokers and navigators ready to offer free, in-person enrollment assistance,” said O’Toole. “This army of assisters is ready to help Minnesotans find the health coverage that’s right for them.”
Four health insurance companies, BluePlus, HealthPartners, Medica and UCare, will offer over 80 different health insurance plans through MNsure for the 2018 coverage year. Multiple health care plans through MNsure are available in every county across the state. All premium rate information will be available on the Minnesota Department of Commerce website beginning today. Both premium and tax credit information will be available on MNsure.org in mid-October.
MNsure is Minnesota's health insurance marketplace where individuals and families can shop, compare and choose health insurance coverage. Ninety-six percent of Minnesotans have health coverage—the highest percentage in state history. In plan year 2017, more than 500,000 Minnesotans have found health coverage through MNsure. The 2018 open enrollment period begins November 1, 2017, and ends on January 14, 2018. More information can be found at mnsure.org.