Minn. health premiums in individual market now considered above average

Big rate increases next year in the state’s individual market mean that Minnesotans who buy health insurance on their own will pay above-average premiums — a startling reversal from 2014 when individual market rates in much of the state were among the lowest in the nation.

A federal report this week looked at rates for “benchmark” plans across 44 states and found a family of four in Minnesota will pay $1,396 per month for the coverage. That’s about 28 percent higher than the average across most of those states at $1,090 per month.

The silver lining is that higher premiums mean bigger federal subsidies for those who qualify, with state officials suggesting there are about 100,000 people in Minnesota who haven’t been tapping tax credits even though they could get them.

http://www.startribune.com/minnesota-premiums-to-exceed-national-average/398574901/