Healthcare companies propose large rises in rates for some Minnesotans

by Brian Edwards

Minnesotans insured under eight different health providers could see rises in their premiums of more than 50 percent, Minnesota Public Radio reports.

As of right now, the increases are only proposals and must be approved by a regulatory board before they are finalized in October, according to the Star Tribune.

Additionally, the federal government has also set up a regulatory board that investigates any raises that are above ten percent, according to the New York Times, which added that the federal boards were created as a part of the Affordable Care Act.

The Times also reported that the federal boards pressed insurance companies to change their large proposals last year into moderate raises and that the same could happen for 2016.

In the MPR article, Gov. Mark Dayton called the raises “outrageous” considering that healthcare costs raised only 3 percent last year.

Jim McManus of BlueCross and BlueShield said to MPR, "We continue working with leaders in both government and health care on the impact of escalating medical costs.”

Commerce Commissioner Mike Rothman stressed that these are not the final rates, according to MPR.

"What I want people to know is that these are the proposed rates by the insurance companies and we will at the Department of Commerce be looking at them very rigorously over the next few months," he said to MPR.