2024 health insurance rates
Every year, the Minnesota Department of Commerce conducts a thorough review of the rates and plans proposed by health insurance companies in the individual and small group markets. Commerce must approve the rates before the companies can offer them to consumers. Under state law, rates for the following calendar year must be released 30 days prior to the beginning of open enrollment.
Individual health plans are designed for Minnesotans who buy their own coverage rather than receiving it through employer-based insurance or public programs such as Medicare, Medical Assistance and MinnesotaCare. Small group health plans are designed for employers with two to 50 workers.
Commerce may deny proposed rates or require insurers to raise or lower them if the department determines that they are excessive or inadequate for the benefits offered.
Individual health insurance market
| Insurer | Average rate change from 2023 to 2024 |
|---|---|
| Blue Plus | 3.00% |
| HealthPartners, Inc. (previously Group Health, Inc.) | 5.50% |
| Medica Insurance Company | 1.90% |
| Quartz Health Plan MN | 3.17% |
| UCare | 5.45% |
Small group health insurance market
| Insurer | Average rate change from 2023 to 2024 |
|---|---|
| Blue Cross | 4.30% |
| Blue Plus | 4.30% |
| Health Partners, Inc. | 6.75% |
| HealthPartners Insurance Company | 15.58% |
| Medica Insurance Company | 7.09% |
| Quartz | 8.58% |
| Sanford | 3.39% |
| UnitedHealthcare Insurance Company | 11.81% |
| UnitedHealthcare of Illinois, Inc. | 13.56% |
For both individual and small group plans, the actual impact of rate changes on consumers may be influenced by their specific plan, geographic area, age, renewal date, and tobacco use.
Rate changes do not necessarily translate into premium changes. For instance, these rate changes do not reflect the impact of federal tax credits that are available to eligible Minnesotans who buy their coverage through MNsure, the insurance marketplace created by the Affordable Care Act.
What does Commerce consider in reviewing rates?
Commerce does not “set” health insurance rates. Instead, it reviews information submitted by insurance companies to determine whether their proposed rates are justified. Rates must be justified both by the benefits that consumers receive for their premiums and by the insurance companies’ ability to pay expected medical claims costs. Premium rates typically rise each year due to increasing costs and use of medical care and prescription drugs.
Commerce’s annual review also ensures that policies comply with state and federal laws that protect consumers -- including laws that require coverage of pre-existing conditions, no-cost preventive care, and an adequate provider network.
- Fact sheet for individual health insurance rates (.pdf)
- Fact sheet for small group health insurance rates (.pdf)
- Other frequently asked questions about rates for individual and small group plans in Minnesota
- Compare plans and apply for individual health insurance on MNsure. Open enrollment for 2024 begins Nov. 1, 2023, and runs through Jan. 15, 2024.