Have you heard of the Friday afternoon news dump? Well it’s being used in Minnesota. ObamaCare skyrockets in Minnesota – going up 60%! Minnesota Commerce Commissioner made the announcement that the state has approved health insurance premium increases for ObamaCare. These were approved in MNsure, which is the state of Minnesota’s ObamaCare exchange.
There was a statement made to explain the increase in rates:
Rothman said that Minnesota’s rate increases are part of a national trend in the individual health insurance market, with nearly all states looking at double-digit rate increases as insurers seek to align premium revenues with expected claims costs. States’ rate increases are also exacerbated by cuts to critical federal programs that were intended to stabilize the market and rates for consumers.
However, Minnesota’s individual market also faces unique challenges because of a disproportionate concentration of individuals with serious medical conditions whose high claims costs must be absorbed by a relatively small risk pool, pushing up rates for everyone in the individual market.
Citing ongoing financial losses, Blue Cross and Blue Shield of Minnesota announced in late June that it is leaving the individual market, except for its Blue Plus HMO affiliate. The company’s decision affects approximately 103,000 Minnesotans, or about 40 percent of the state’s total individual market.
One thing was 100% true about Rothman’s statement. It is that the only reason the rate is being increased is to keep the market from collapsing. On top of that, this is not the first time it has been raised in Minnesota.
ObamaCare Rates Skyrocket in Minnesota
The attempt to force controlled healthcare on the United States is failing miserably. It is obvious that it is nearing its collapse not just in Minnesota, but all around the country.
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