An estimated 1,300,000 Minnesotans will benefit from legislation signed into law Wednesday by Governor Mark Dayton, including nearly 300,000 Minnesotans who are currently uninsured.
The bill, which establishes a new marketplace where Minnesotans can choose quality, affordable health coverage - will save Minnesota families and businesses an estimated $1,000,000,000 in health care costs by 2016.
Dayton says after federal tax credits, individual consumers will see an average 34 percent decrease in premiums for insurance purchased through MNsure - Minnesota's new federally mandated health insurance exchange. The average family will save $500 annually.
Dayton says ultimately, one in five Minnesotans will use MNsure to access health coverage - and the subsidies and tax credits that come with it.
This new, consumer-focused marketplace will require insurance companies to compete for business, presenting consumers with clear and simple choices about coverage.
It will empower middle-class families, small businesses, and low-income Minnesotans to choose the quality health coverage they need at a price they can afford.