Roughly 125,000 Minnesota residents who purchased ACA health plans without subsidy eligibility face premium increases of 50 percent or higher this year. The new legislation will provide a 25 percent premium reduction for individuals earning between $35,640 and $95,040 annually and families of four earning between $72,900 and $194,400 annually, according to the report.
The bipartisan bill includes a premium rebate plan proposed by Gov. Dayton combined with a Republican package of health insurance law changes. The governor said in a prepared statement he does not agree with the totality of the bill but commends that a compromise was reached.
Under the measure, insurers will automatically issue the rebates through state payments. Rebates are retroactive to Jan. 1 and are anticipated to be seen on March or April bills, according to the report.
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