Minnesota health insurance rates could jump as much as 21%

Minnesotans who buy their own health insurance or get coverage through a small business could see rate hikes of up to 21% in 2027.Open enrollment for individual health insurance begins Nov. 1. According to the state of Minnesota, proposed increases in the individual market range from 9% to 21%, affecting 203,000 Minnesotans.The small-group market could see increases ranging from 10% to 21%, affecting 184,000 Minnesotans. Actual premiums vary based on factors including plan selection, geographic region and age. Families will make trade-offs food, rent said Professor Jen Schultz.Schultz is a professor of Economics and Healthcare Management at UMD. She said the rate hikes are caused by factors like inflation and fewer federal subsidies. We are already seeing an increase in the number of uninsured Minnesotans. It used to be 3.5%. It s almost doubled; we are now at 5.8%, and that s going to increase the cost of healthcare coverage, said Schultz.Schultz said she is worried more Minnesot