How do the MN Health Insurance rate increases compare to other states?MN Health Staff Writer | February 3, 2016
How do the MN Health Insurance rate increases compare to other states?
Minnesotans find themselves shopping for and comparing 2016 MN health care plans. The recently released rates have some people shocked as they are projected to see an over fifty-percent jump in their monthly health care coverage premium.
Thankfully, not everyone can expect such a steep hike in cost, though. According to kff.org, the Minnesota average for health care rate increases (compared to their 2015 rate) is actually 28.4%, which is noticeably lower than the initial shock of hearing "fifty-percent increase." It might surprise Minnesotans that in an overall comparison to the Nation's monthly premium rates, Minnesota remains on the more "affordable" end of the health care cost spectrum. In other words, Minnesota has cheaper rates than a lot of the Nation, but will still experience an increase that is higher than the Nation's average.
2016 Rate Increases (compared to 2015 rates):
- National average: 10.1 %
- Minnesota average: 28.4%
Surrounding state 2016 rate increases (compared to 2015 rates):
- Wisconsin average: -2.1%
- Iowa average: 15.4%
- North Dakota average: 11.8%
- South Dakota average: 20.2%
- (Source: kff.org)
One thing is true: the cost of health care is becoming more expensive and finding an affordable plan creates a challenge for individuals, families and groups. Seeking out a dependable resource, like the agents at Minnesota Health Insurance Network, can create a less stressful experience and provide more understanding of the current health care market. Visit mnhealthnetwork.com to get connected with a quote and broker today.
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