Insurers raise individuals' health coverage rates for 2016

Friday, October 2, 2015

From ST. PAUL PIONEER PRESS: On Thursday, 2016 got a lot more expensive for about 300,000 Minnesotans when the state announced how much health insurance would cost next year on the individual marketplace. Every company will impose double-digit percentage rate increases, and several companies will be hiking their rates by almost 50 percent. Here are the key facts: What was announced today? The Commerce Department unveiled the final premium rates for 2016 insurance plans on the individual market. The big news is that most of these rates are going way up: average rate increases of between 14 percent and 49 percent, depending on the plan. That could mean more than $100 a month in extra premium costs.