Section 1332 State Innovation Waiver

1332 Final Annual Report for 2018

• Minnesota Reinsurance Annual Report Cover Letter (.pdf)
• MCHA | Minnesota Premium Security Plan | 2018 Quarterly Results for MPSP, December 17th, 2018 (.pdf)
• MCHA | Minnesota Premium Security Plan | Initial 2018 Benefit Year Reinsurance Estimate Under Minnesota Premium Security Plan, February 12th, 2019 (.pdf)
• MCHA | Minnesota Premium Security Plan | 2018 Benefit Year Report Results for the Minnesota Premium Security Plan, June 27th, 2019 (.pdf) 
• Exhibits 1 and 2 | 2018 Second Lowest Cost Silver Premiums Without Waiver for a Representative Individual by Rating Area and Age (.xlsx)
• Exhibits 3 and 4 | Advanced Premium Tax Credit by Month and Rating Area Year to Date 2018 (.xlsx)

Section 1332 of the Affordable Care Act permits a state to apply for a State Innovation Waiver to pursue innovative strategies to provide its residents with access to high-quality, affordable health insurance.

In 2017, Minnesota enacted a law that created the Minnesota Premium Security Plan. This state-based reinsurance program is designed to stabilize premiums in Minnesota’s individual health insurance market by partially reimbursing insurers for high-cost claims. 

The new state law authorized up to $271 million per year in 2018 and 2019 for the reinsurance program, and it called for the Minnesota Commerce Department to submit a State Innovation Waiver application to secure partial federal funding. This waiver application was approved by the federal government in September 2017.

The waiver allows Minnesota to use federal funds to cover a significant portion of the annual reinsurance costs and hold down rates for Minnesotans who buy their own health insurance coverage. As a result of the waiver and implementation of the reinsurance program, the 2018 premiums for Minnesota consumers in the individual health insurance market are about 20 percent lower on average than what they otherwise would have been without reinsurance.

As required by federal regulations, the Commerce Department is convening a public forum to accept comments about the progress of the State Innovation Waiver. The forum will include a presentation about the waiver and the implementation of the reinsurance program, followed by time for questions and comments. 

Date: June 4, 2019
Time: 2 p.m. to 4 p.m.
Rondo Community Outreach Library
461 Dale St N
St Paul, MN 55104

• Public Meeting Presentation, June 1, 2018 
• Approval Letter, September 22, 2017 
• Completeness Letter, June 30, 2017 
• Application Narrative 
• Actuarial Analysis