Section 1332 State Innovation Waiver

Notice of Public Forum and Annual Reporting

State Innovation Waiver for the Minnesota Premium Security Plan to Stabilize the State’s Individual Health Insurance Market and Reduce Premiums for Consumers

The 1332 Waiver Draft Annual Report is now available. Please see the Annual Reporting information below.

A public forum regarding the progress of the State Innovation Waiver was hosted on June 4, 2019. Please see the Public Forum information below.

Annual Reporting
1332 Draft Annual Report for 2019
- Minnesota Reinsurance Draft Annual Report Cover Letter (.pdf)
- MCHA | Minnesota Premium Security Plan | Final 2019 Third Quarter Report, December 10th, 2019 (.pdf)
- MCHA | Minnesota Premium Security Plan | Initial 2019 Benefit Year Reinsurance Estimate Under Minnesota Premium Security Plan, February 21st, 2020 (.pdf)
- Advanced Premium Tax Credit by Month and Rating Area 2019 (.xlsx)
Background

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.
Public Forum

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 19, 2020
Time: 2 p.m. to 3 p.m.
Virtual Meeting (check back for link to the meeting)
Documents

More Information

Persons with disabilities who require reasonable accommodations to participate in the forum should contact Leah Wilkes at 651-539-1460 or leah.wilkes@state.mn.us at least five days in advance of the meeting to make appropriate arrangements. Documents can be made available in alternative formats (e.g., large print or audio) by calling 651-539-1460. Persons with hearing loss or speech disabilities may call through their preferred Telecommunications Relay Service.