On the heels of state officials announcing rates for the individual health insurance market for next year, MNsure CEO Allison O’toole is reminding consumers that tax credits are still available to Minnesotans to save money off their monthly premiums, but they can only be accessed through MNsure. O’Toole says many mistakenly think they will not qualify for tax credits, but she notes that “this year an individual earning up to $48,240 a year or a family of four earning up to $98,400 can qualify. She says last year about two-thirds of MNsure enrollees did qualify for the credit–and the average credit was about $7000. On Monday, officials announced projected rates in the individual market in 2018 will range from a decrease of 38-percent to an increase of less than three-percent. The MNsure open enrollment period for 2018 begins on November 1st and ends January 14th, 2018. Governor Dayton on Monday released this statement regarding MNsure and rates:
“I urge all Minnesotans, who purchase their health insurance on this Individual Market, to shop on MNsure, during the Open Enrollment period starting November 1st, for the coverage that best fits their needs. MNsure remains the only way to use the federal cost-saving tax credits, which will save qualifying Minnesota families an average $7,650 next year.
“I remain strongly opposed the federal government’s proposed cuts to MinnesotaCare. I will continue to work with our Congressional Delegation to preserve its full federal funding.
“However, I want to reassure all Minnesotans, who are covered through MinnesotaCare, that their health insurance will not be disrupted in 2018. We have enough funding to pay fully for this program through next year.”