Physician Patient

Archive for April 5th, 2017

It’s a Minnesota “Nonprofit” Health Care Insurance Wonderland

Wednesday, April 5th, 2017

Constituents are sending a drum beat of complaints to their legislators about escalating health care insurance premiums, gaping deductibles, and loss of access to doctors, hospitals and other “providers.” In response, the MN legislature (on a bipartisan basis) approved to spend more than $600 million (we have a budget surplus) as a bribe to keep at least some Minnesota Health Plans servicing the Minnesota (MNsure) individual insurance market. No guarantees, of course. Governor Dayton couldn’t even sign this legislation and it passed absent his signature.

Now we are told that the Plans are losing money, to be exact $687 million in 2016 according the Minnesota Council of Health Plans trade association. http://www.twincities.com/2016/04/01/minnesotas-health-insurers-lost-big-in-the-individual-market-last-year/

However, the investment accounts held by the Plans are reportedly doing very well and some parts of their businesses are making money. Nice to know the details, but that’s a trade secret for these “nonprofit” organizations, right?

Minnesota taxpayers need to know how much money each of Minnesota’s nonprofit insurance companies put into their reserves in 2016. We want to know where our taxpayer money is going. Who will tell us?