"SevenHills Benefit Partners excels at finding the right benefits program to meet our needs. First, they take the time to truly understand our specific situation and then educate us on the pros and cons of each potential solution. We rely and trust their recommendation and advice. But the real value is the service SevenHills Benefit Partners provides after the sale. It is truly value-added."  *

Joanne Stadnik
Executive Director
North Clinic, P.A.


Independence     Service      Guidance

News and Announcements

08/02/17 Important Individual Health Premium update

On July 31st general information was released about proposed health insurance premium rates for 2018. This report has caused some confusion because there are several unresolved issues about those premiums. In reality, we will not know the actual effect on 2018 premiums until after October 1, 2017.

This year insurance companies were asked to file proposed premium rates with two different schedules, one rate schedule that considers enactment of a new Minnesota funded reinsurance program, and one that does not. The rate information released reflect a significantly favorable impact should the federal government grant Minnesota a “Waiver” and allow its new reinsurance program to become law.

The following table shows the difference, with or without the reinsurance plan:

Insurer

Proposed rates w/Reinsurance

Proposed rates w/o Reinsurance

Blue Plus

-1.5% to +11.4%

+16.4% to +31.7%

Group Health

-14.5% to -13.4%

+3.3% to +4.6%

Medica Insurance Company

-5.3% to + 5.3%

+15.4% to +29.4%

Preferred One Insurance Co.

-40.8% to -36.8%

-25.5% to -20.6%

UCare

-14.5%

+9.4%


You can view the Department of Commerce table at https://mn.gov/commerce/consumers/your-insurance/health-insurance/rate-review/rate-filings/2018/ “Public comments on the proposed 2018 health insurance rates will be accepted through August 31, 2017, for consideration in the rate review process. Comments may be submitted to .”

This information provides a glimpse of rates for 2018, but very little is known about the proposed benefits of the policies. In recent years the availability of options within the individual health insurance market has diminished substantially, deductible and out of pocket costs have soared and doctor networks have become much more limited.

At SevenHills, we help employers make confident decisions concerning their employee benefit plans. We are hopeful that the individual health market rights itself and that over time becomes a viable option for individuals and employers alike. For now we will continue to monitor the situation and are hopeful that Minnesota is successful with its waiver request.

Please contact us with additional comments or questions.

Thank you!
~SevenHills Benefit Partners




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