Your Guide to Minnesota Health Insurance
Before we jump right into Minnesota health insurance and everything you need to know, let’s start with a little background information. In 2010, the Affordable Care Act (a.k.a “Obamacare”) was passed with the goal of getting all Americans access to affordable health insurance. To meet this goal, one measure Obamacare took was to create the ACA health insurance marketplaces, or health exchanges: one-stop shops where Americans can choose from a range of standardized, government-regulated health care plans. Health exchanges are also where eligible people can get subsidies, which lower the cost of their health plans.
States were given the option to run their own local exchange, take part in a multi-state exchange, or use the federal exchange. States that run their own exchanges get to customize many elements, including the time frame during which their residents can sign up for a plan. Several states decided to operate their own state exchanges and continue to do so to this day. Minnesota is one of those states.
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Minnesota’s Health Insurance Landscape
The Minnesota health insurance exchange is called MNsure. Before the ACA, 9% of Minnesotans were uninsured. Since the introduction of MNsure, the percent of Minnesotans without health insurance has dropped to 4.8% as of 201.
Last year during Open Enrollment, 122,269 people enrolled for health insurance through MNsure, up from 117,520 the year before.
The Minnesota Health Insurance Exchange
MNsure is where eligible people throughout the state can find subsidized ACA plans. Open Enrollment for coverage starting in 2022 in Minnesota begins November 1, 2021 and ends December 22, 2021. If you sign up by December 22, your coverage will start on January 1.
MNsure is one of seven states with a reinsurance program, which essentially reimburses insurers for costly claims. This results in lower total claims costs for insurers and is transferred to you in the form of lower monthly payments to your health insurance company.
Like all other state exchanges, each plan on MNsure covers 10 essential health benefits. These include things like prescription coverage, maternity and mental health care, and laboratory services.
Buying insurance with MNsure involves four steps:
1. Create an account on MNsure
2. Complete the online application form
3. Compare your options
4. Select your plan and enroll
In true health insurance fashion, each of these steps can be trickier than you expect. Many people need help navigating the website, estimating their income, figuring out if they are eligible for subsidies, and understanding what documents are needed for proof of income, citizenship, or identity. Working with Stride makes this process much faster and easier, while still allowing you to enroll through MNsure with the same plan at the same price.
MNsure’s Intricacies: What You Need to Know for 2021
All Minnesota health insurance carriers that offered plans on MNsure for 2020 will continue to do so for 2021. This means all four carriers are returning to the exchange; one new carrier is joining. These carriers include:
Blue Plus
Group Health
Medica
UCare
Quartz (new)
Minnesotans are fairly lucky because there is a strong variety of carriers participating in the exchange.
Insurance plan prices in Minnesota decreased slightly (1%) last year. Lower rates are largely the result of Minnesota’s reinsurance program, which helps lower costs for consumers. For the same reason, rates are likely to remain low for 2022 as well. The amount by which it increases depends on where in Minnesota you live.
If you live in Minnesota, your Open Enrollment Period (the time of year when you can enroll in a new health plan) has already begun. Let us help you find your most affordable plan, and you’ll be well on your way for smarter, better savings all year long. And don’t forget—if you need help finding a subsidy or picking a plan, our experts can help with that too.
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