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Senate panel hears extensive testimony for reinsurance extension, funding options
Summary
Senate File 3 33 would extend Minnesota's individual-market reinsurance program and requests $512 million to the premium security account for plan years 2026–27, sponsors said.
Senator Dave Dames, sponsor of Senate File 3 33, told the committee that the bill would secure funding and extend Minnesota's reinsurance program for the remaining two years of a federal Section 1332 waiver period, and he said the bill requests $512 million for the premium security account covering plan years 2026 and 2027. "Section 4 is where it's requesting funding and it's requesting 512,000,000, to be put into the premium security account," Dames said.
Witnesses representing insurers, employers and business groups described the program's effect in lowering individual-market premiums and stabilizing enrollment. Dan Andreessen of the Minnesota Council of Health Plans testified that the…
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