Tax-payer funded health insurance rebates coming in Minnesota

Rebates go to those buying own insurance
that make too much to qualify for subsidies.

If you’re a family of four making nearly $100,000 a year in Minnesota, you could be in line for taxpayer-funded health insurance rebates.

Minnesota Gov. Mark Dayton signed the measure Friday that could provide aid to around 125,000 in the state for ballooning premiums on the individual market.

The rebates will go to those who qualify to buy their own insurance on the individual market but make too much to get federal subsidies to help pay for it – people making more than $47,520 annually, or $97,200 for a family of four.

The plan took months to work out in the Legislature. Open enrollment ends at midnight Tuesday, so time is running out to take advantage of it.

The measure was part of a rare, bi-partisan agreement which combined $326 million in state money to be distributed in aid pushed by democrats with other health care reforms wanted by republicans. It also includes $15 million to help cover people with serious medical conditions who lose their insurance.

“This should help try and reestablish an individual market for 2018,” Republican state rep. Greg Davids from Preston said. “I thank the governor for signing the bill and allowing there to be some reforms put into the legislation,” 

Minnesota Management and Budget Commissioner Myron Frans said Friday eligible residents will see an average of $150 in savings monthly. And the discounts will be automatic starting in April for anyone who buys health insurance.

Health plans will also reimburse shoppers for the higher costs back to Jan. 1. Insurance companies will automatically send rebates via state payments.