Trump’s Action Won’t Trigger Premium Hikes in Minnesota
ST. PAUL, Minn. (AP) _ State officials say President Donald Trump's late decision to halt payments to insurers shouldn't affect insurance rates next year for shoppers who buy their own coverage.
The White House announced late Thursday it would end cost-sharing reductions that help control premiums after months of speculation. States across the nation are preparing for premium spikes of 20 percent or more in the individual market.
A spokesman for the Minnesota Department of Commerce said Friday that it would not raise premiums for the 180,000-plus residents on the individual market. Premiums are largely steady in 2018 after years of double-digit increases.
But Minnesota will still feel the pain because that money has helped fund MinnesotaCare, the health care program for the working poor. It was unclear how
large the financial hit would be.