MN Health Insurance Exchange Bill Passes House
On Monday, the Minnesota House of Representatives passed the bill to create a state health insurance exchange where Minnesotans can compare and purchase health insurance coverage. Local Rep. Tim Faust voted in favor of creating the exchange, which will serve approximately 1.2 million people in the state.
Democrats say Minnesota families are expected to save over $1 billion by using the exchange to purchase insurance, with the average family saving $500 and a lower-income family saving approximately $1800.
The exchange is also supposed to help small businesses provide affordable health care choices to their employees. Small businesses currently pay on average 18 percent more than large businesses and the exchange will help them save up to 7.5 percent off premium costs.