Dive Brief:
- Minnesota insurance regulators are making a late-stage push to get more carriers to participate in the state's MNsure health insurance exchange for 2017, especially to provide coverage outside the Twin Cities metro area, the Start Tribune reported.
- The regulators put out a request for proposals last week to be due Sept. 9, in which they ask prospective participants to propose waivers to state laws or rules that would make it possible for them to offer coverage outside of the metropolitan area.
- The insurers would be asked to provide a minimum of one plan through MNsure in one or more Minnesota counties.
Dive Insight:
The move suggests regulators are desperate to increase options on the state exchange as competition there has dwindled, concerns remain about premium spikes, and as the alarm has been raised about reduced competition nationwide, particularly due to cutbacks from major insurers and co-op closures this year.
It is not clear what plans are currently slated to become available and at what price for 2017, as the state's commerce department is still negotiating with insurers.
The call leaves regulators and potential participants with just three months to organize any plans before open enrollment.
“This is a distress call,” Stephen Parente, a health insurance expert at the University of Minnesota, told the Star Tribune. “This is for the 2017 year, and you’re putting it out on August 15th? You should be putting this out on Jan. 15th or Feb. 15th.”
Minnesota's regulators appear to be wading into controversial territory with their invitation to request waivers. State Rep. Greg Davids, raised debate over whether this would allow new insurers to bypass financial reserves requirements or skip benefit mandates.