Minnesota Republicans say their health insurance reforms have reversed Obamacare’s double-digit premium hikes, with preliminary 2018 numbers released today showing premiums essentially the same as last year and in some cases reduced. Governor Mark Dayton says it’s “tremendous news,” but notes the state is buying down rates with “reinsurance,” which is very expensive. The governor says, “Reinsurance is gonna cost over half a billion dollars over the next two years, and the ability of the state to continue to provide that subsidy for insurance companies without any federal relief,… they’re gonna be hard-pressed.”
House Speaker Kurt Daudt responds, “More work remains, but we hope this ends double-digit increases that Democrats brought to Minnesota with Obamacare and MNsure.” Democratic gubernatorial hopeful Erin Murphy warns under Republicans’ plan, “Over the next few years, rates are either going to skyrocket or the market is going to collapse.”