Update: Minnesota’s Insurance Rates Set to Stabilize in 2018

ST. PAUL (AP) - Minnesotans who buy health insurance on their own may see slight premium hikes or even some price drops next year.

State regulators announced preliminary rates for next year that range from a 15 percent decrease to an 11 percent bump compared to premiums in 2017. Those rates vary widely by insurer and may change by the time premiums are finalized in early October.

But it was welcome news for shoppers and politicians after insurers bumped their prices by as much as 67 percent this year. The lower rates hinge on the federal government approving and funding part of a new, $542 million fund created by lawmakers this year to control costs in the individual market.

Gov. Mark Dayton calls it ``tremendous news'' that health insurance rates will remain basically unchanged.