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Minnesota Health Insurance

 

All health insurance policies in Minnesota are considered guaranteed renewable as long as your premiums are paid up to date.  So this means your health insurance can not be canceled because you become sick.

 

Minnesota mandates that health insurance companies cover newborns and adopted children for the first 31 days, on their parent’s policy.  But inversely pregnancy is, and can be considered a pre-existing condition, except on group health policies.  Pregnancy is a pre-existing condition but not on group health insurance.

 

The Minnesota Comprehensive Health Association (MCHA) is the high risk pool in Minnesota.  It provides health insurance for residents that have been refused coverage by private insurers because of their medical history.  To qualify you must be a Minnesota resident for 6 months or HIPAA eligible.

 

MCHA does impose a 6 month pre-existing condition on individuals and no exclusions for HIPAA individuals.  Premiums are based on age and are renewable as long as you are a resident, pay you premiums, and qualify.

 

The Division of Health Insurance should be a good resource for additional information.

 

                             Request a Minnesota Health Insurance Quote

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Minnesota Small Business Health Insurance

 

In Minnesota, a group health plan, can not base your health insurance premiums on your health.  This is called non discrimination.  Small Business Health Insurance in Minnesota is also guaranteed issue, meaning that you can not be turn down for coverage.  Large companies with 50+ employees can be turned down for health

 insurance.

 

Pre-existing exclusions are limited on the amount of time they can exclude coverage. Pre-existing conditions are only what has occurred in the last 6 months.   Also if you have current coverage, without lapses, that will be credited against your pre-existing period.  Pregnancy and genetic information is not considered pre-existing conditions on a group health plan.

 

The maximum pre-existing waiting period is 12 months for an employee.  Any pre-existing periods must be applied only after written notice.

 

Minnesota does limit the amount of variation between premiums of different group health plans.  Each Small Business Plan will have certain enrollment periods in which employees can sign on to get coverage.

 

For additional information about Small Business Health Insurance in Minnesota click here.

 

                               Request a Minnesota Small Business Health Insurance Quote

 

 

Minnesota Individual Health Insurance

 

All Minnesota Health Insurance Policies have to cover disabled children on their parent’s policy into their adulthood.

 

In Minnesota, insurance companies are able to decide if they want to insure you or not.  They can either rate you up or just refuse coverage.  Also Minnesota does not mandate what you buy, so insurance companies are able to design specific policies for specific consumers, rather than make insurance companies offer similar policies.

 

Minnesota allows health insurance companies to include pre-existing conditions and the maximum amount of time they can be enforced is 12 months.  Also in Minnesota elimination periods are illegal.

 

Relative to Pre-Existing Conditions, Insurance companies in Minnesota must give credit to prior credible coverage as long as there was not more than a 63 day lapse in coverage.

 

The rates that an individual pays for a Minnesota Health Insurance Plan are based on age, location, health history, family size, sex etc.  Sadly there is no limit on how much an insurance company can charge and individual for coverage.

 

There are two programs that can help uninsured, and low income families in Minnesota get affordable health insurance. Medical Assistance will provide free health insurance to residents as long as they qualify.  

 

 MinnesotaCare is a program that subsidizes a portion of your health insurance premiums relative to your financial situation.

 

For additional information about Individual Health Insurance in Minnesota click here.

 

                              Request a Minnesota Individual Health Insurance Quote

 

 

Minnesota Self Employed Health Insurance

 

In Minnesota self employed people are not able to buy health insurance like any other small business.  A self employed persons rights are protected under the laws protecting individuals, and that is the type of policy they are eligible for in Minnesota.

 

Another option for affordable Minnesota Self Employed Health Insurance is often associations or self employed groups.  Just keep in mind that not all of these groups or associations are regulated by the state.

 

One benefit for Self Employed people is that they are able to deduct 100% of their health insurance premiums from their taxes!

 

For additional information about Self Employed Health Insurance in Minnesota click here.

 

                              Request a Minnesota Self Employed Health Insurance Quote

 

 

Temporary Minnesota Health Insurance

 

Many situations may arise where you find yourself without health insurance, or about to be without health insurance.  These reasons could range from graduating college to being in-between jobs.  Instead of going without health insurance you should look into getting a Minnesota Temporary Health Insurance Policy.  These policies will be cheap, with high deductibles and low coverage, but getting a Minnesota Temporary Health Insurance Policy is much better than going with out health insurance. 

 

In Minnesota, Temporary Health Insurance is not guaranteed renewable.  So when reapplying for coverage, and individual can be refused due to current health and/or pre-existing conditions.

 

For additional information about Temporary Health Insurance in Minnesota click here.

 

                               Request a Minnesota Temporary Health Insurance Quote

 

 

What types of Minnesota Health Insurance are there?

 

HMO- Health Maintenance Organization.  This type of insurance is called managed care.  This means you have certain network of doctors and hospitals in Minnesota that you have to go to for care.  Most Minnesota HMO’s have office visit co-payments that range from $10 to $35, and hospital deductibles that range from $250 to $1,500.  Often the most affordable health insurance plans are HMO’s due to the fact they are managed care.

 

PPO-Preferred Provider Organization.  This type of insurance is also called managed care but it gives the consumer much more freedom; they allow you to visit any doctor or hospital in or out of network.  Most Minnesota PPO’s have an in network and an out of network charge.  If the in network co-insurance is 100% then the out of network co-insurance would be 80%.  If the in network co-insurance is 90% then the out of network co-insurance would be 70%   Typically Minnesota PPO’s offer co-payments for doctor visits as well as hospitalization. 

 

Indemnity Plan - In Minnesota, as health insurance rates continue to rise, many people are finding it more affordable to drop their health insurance and buy a Minnesota Major Medical Health Insurance Plan.  An Indemnity plan can also be called a major medical plan or catastrophic health insurance.  Whatever you call it, typically a Minnesota Indemnity Plan would cover more “major” claims.  An Indemnity plan has an annual deductible and will usually allow you to pick different co-insurance options.  Indemnity plans allow you access to any doctor or hospital, and for this reason they are typically very expensive.

 

Discount Medical Plans – In recent years many Discount Medical Plans have started to surface.  These plans have relatively inexpensive, but consumers must realize that this is not insurance.  All these companies do is to get their customers discounted rates (20-50% off) on certain procedures at certain physicians and hospitals. 

 

Federal Mandated Health Insurance Laws

 

HIPAA

Along with Minnesota Health Insurance Laws, there are Federal Laws that regulate Health Insurance companies.   HIPAA (Health Insurance Portability and Accountability Act of 1996). This act mandated federal standards for individual and group health insurance plans.  Some of the standards that it established were relative to guaranteed renew ability, crediting for prior health coverage and pre-existing condition waiting periods.

 

ERISA

Large corporations do not have health insurance policies.  Typically they are self funded, meaning the corporation pays for all of their employee’s medical bills instead of buying health insurance.  Most of these “self funded” companies are regulated by the federal government under ERISA (Employee Retirement Income Security Act)

 

COBRA

In Minnesota it is mandated, by the state, that all companies that offer a Minnesota Group Health Insurance Policy must also enable their employees to extend their health coverage temporarily; called Cobra.  A Minnesota Cobra Insurance is typically available for a time period under 18-36 months.   In Minnesota you are given 60 days to decide if you are going to take Minnesota Cobra Insurance or not.  Once you have passed on the opportunity to take Cobra, you are not eligible to receive it.

 

Cobra Insurance was introduced in 1985.  Cobra stands for Consolidated Omnibus Budget Reconciliation Act.  If you would like more information about your Cobra Insurance options please contact your companies HR department.

 

Often employees are surprised at the cost of a Minnesota Cobra Insurance.  The reason for this is that they are now responsible for 103% (100% of the premium plus a 3% administration fee) of a monthly health insurance premium when they probably only paid 20% while employed. 

 

Whether nor not to take Cobra is an important question, and you should realize there are alternatives to a Minnesota Cobra Insurance Policy.  One should realize what they plan to do in the future.  If you are looking for another job, and it will be a few months before you get a job, it might make sense to look for a Minnesota Temporary Health Insurance Plan.  If you are contemplating working at a consultant, it would be in your best interest to look into a Minnesota Self Employed Health Insurance Policy.   

 

 

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