In Minnesota, Rainy-Day Fund May Help Cover Insurance Hikes
ST. PAUL, Minn. (AP) - Minnesota lawmakers are working to offset massive health insurance premium increases for more than 100,000 residents who buy their own coverage.
It's a novel step as other states grapple with rising health insurance costs and uncertainty of how the Donald Trump administration will handle the Affordable Care Act. Minnesota officials agree premium hikes of up to 67 percent merit using rainy day funds to buy down costs for 2017.
Gov. Mark Dayton and legislative Republicans were still arguing over approach as Minnesota's House prepared to pass legislation Thursday that would reduce premiums for shoppers who make too much to get federal subsidies.
It would help residents like Tracie Loeffler. Loeffler says her family is burning through savings to pay for coverage that costs more than their mortgage.