Bill
SF 1024
Overview: SF 1024, MNsure premium subsidy program establishment, providing a sunset for the Minnesota premium security plan, and appropriation, was referred to the Health and Human
Overview: SF 1024, MNsure premium subsidy program establishment, providing a sunset for the Minnesota premium security plan, and appropriation, was referred to the Health and Human Services committee after a committee report recommended passage with amendments.
Purpose and Intent: The bill aims to establish a new premium subsidy program through the state's health insurance exchange, MNsure, to improve affordability of individual market health plans. It also phases out the existing Minnesota Premium Security Plan, a reinsurance program that has helped stabilize the individual market.
Key Provisions:
- Creates a new premium subsidy program for MNsure enrollees with incomes up to 400% of the federal poverty level
- Provides sliding-scale subsidies to reduce monthly premium costs
- Sunsets the Minnesota Premium Security Plan after the 2026 plan year
- Appropriates funds for the new premium subsidy program
Affected Parties and Impacts:
- Individuals and families purchasing health insurance through MNsure will benefit from the new premium subsidies
- Health insurance carriers in the individual market may see changes in enrollment and risk profiles as the reinsurance program ends
- The state government will take on increased costs to fund the new premium subsidy program
Procedural and Timeline Considerations:
The bill has been recommended for passage with amendments by a committee and referred to the Health and Human Services committee for further consideration. If enacted, the new premium subsidy program would likely launch for the 2027 plan year, coinciding with the sunset of the reinsurance program.
Compiled from official sources — confirm details with the bill’s official record.
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