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Committee advances reinsurance reauthorization to Ways and Means after lengthy funding debate
Summary
The House Health Finance and Policy Committee on March 17 voted to send House File 837, the reinsurance reauthorization bill for Minnesota’s individual insurance market, to the Ways and Means Committee after extended testimony and debate over funding sources.
The House Health Finance and Policy Committee on March 17 voted to refer House File 837 — a reauthorization of Minnesota’s reinsurance program for the individual insurance market — to the House Ways and Means Committee after several hours of testimony and debate over funding and program design.
Representative O'Driscoll, the bill’s author, described reinsurance as a program that stabilizes the individual market by partially reimbursing insurers for very high claims. He said Minnesota’s program helped preserve the market after insurers threatened to leave in 2016 and credited it with lowering individual-market premiums by roughly 20 percent when the program was first implemented. “If we decide in Minnesota that we don't want to renew the reinsurance program, those really aren't cost savings for us,” O'Driscoll said, warning of increased uncompensated care and…
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