10/2/2017 3:29:43 PM
ST. PAUL – According to data released by Minnesota Management and Budget (MMB), 111,923 Minnesotans have benefited to date from the state’s Premium Assistance Program for the months of January through June. Insurance companies have sought reimbursement for approximately $71,081,146 for those months.
According to MMB data, the average savings for a single person receiving the subsidy is $135.73 per month. The average savings for a family of four receiving the subsidy is $355.15 per month.
Total Monthly Enrolled
January
February
March
April
May
June
* June numbers reflect current invoices submitted to Minnesota Management and Budget. Numbers may fluctuate as insurance companies submit more information to the state.
In July, MMB Commissioner Myron Frans assessed the Premium Assistance Program and determined it is expected to spend less than $200 million through the end of the year to reimburse health insurance companies for providing the premium subsidy to eligible Minnesotans. An additional review of the program’s appropriation will take place as part of the November forecast, where the Commissioner is required to certify the extent to which appropriations exceed obligations for the Premium Assistance Program.
The Premium Assistance Program is made possible by a $312 million dollar investment by Governor Mark Dayton and the Minnesota Legislature. That amount was determined by projections based on 2015 and 2016 insurance market enrollment. The program provides eligible policy holders with a 25 percent discount on their insurance premiums throughout 2017. The program is open to Minnesotans who are enrolled in the individual insurance market, who fulfilled their monthly premium payment, are not participants of any Minnesota public health care programs, and do not receive federal subsidies through an advance premium tax credit on their monthly bill.
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Contact: Keith Hovis, Minnesota Management and BudgetDirector of Communications
651-259-3666, Keith.Hovis@state.mn.us
