Fewer Marketplace Insured Equates to State Rebate Savings
ST. PAUL, Minn. (AP) _ Fewer enrollees in Minnesota's individual health insurance marketplace will result in millions of dollars in savings in state-funded discounts.
State lawmakers in January passed a $310 million discount package offering a 25 percent rebate for people who buy insurance on the individual marketplace.
Earlier estimates anticipated about 120,000 people might be eligible for the discounts. Reports say through the end of April, about 95,000 Minnesotans had received discounts each month. The total bill so far for the rebate programs is nearly $47 million. If that rate holds for the rest of the year, the state could save $170 million annually on the program.
Minnesota Council of Health Plans spokeswoman Eileen Smith says there are more than 100,000 fewer enrollees in 2017 than in 2016.